The second half of 1998 was a tough time for buyers of water transportation services. Average prices charged for deep-sea domestic and international transport rose 3.8% from year-ago levels in the third quarter of 1998 and 2.6% in the fourth quarter. The outlook calls for more of the same kind of rate hikes in early 1999. Expect an average price hike of 3.2% in the first quarter and 1.1% in the second quarter. Water rates should settle down in the latter half of 1999.
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