Fuel costs, driver deficit boost freight rates

Nov 12, 2007 | 02:14 PM | Sean Barry

Logistics companies are facing rising costs as the industry's labor shortage deepens and oil prices flirt with $100 a barrel, according to Michael A. Regan, chairman and chief executive officer of TranzAct Technologies Inc.

Transportation costs across the board shot up 15.2 percent in 2005 and another 9.4 percent in 2006, he told participants at the American Copper Council meeting in St. Louis, and will rise even more this year as oil prices reach record highs and the logistics industry faces a growing labor problem due to a shortage of qualified truck drivers.....

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