Price Trends: Water
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After dramatic price increases last month, prices for moving cargo on inland waterways and on the Great Lakes/St. Lawrence Seaway gave back a bit, down 0.8% and 1.8%, respectively, in February. Now, however, other water transport markets are getting into the price-hike act, with deep sea freight prices up 4.8%, and coastal/intercoastal freight tags up 2.8%. For the aggregate water transportation industry, prices overall increased 2.4% as industry costs grew only 0.5% thanks to a 1.2% one-month drop in spending on fuel. Nonetheless, January and February data shifted the forecast take-off point, so our industry-wide price forecast has been revised upward to a 4% annual inflation rate in 2010. Next year, prices are expected to remain on a 3.1% inflation track.
|% Change vs.||1 month ago||6 mos. ago||1 yr. ago|
|Coastal & intercoastal freight||2.8||3.6||11.0|
|Grt. Lks.-St. Lawrence Seaway||-1.8||8.9||5.5|
|Inland water freight||-0.8||4.0||-7.6|
Source: Elizabeth Baatz, Thinking Cap Solutions. E-mail: [email protected]
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