Costs keep rising and service declining

Some data points:
  • Consumer price index is up 4% year over year
  • Container ship charter rates reached the highest levels in 16 years with 60% late in arriving at ports in March (about double normal) 
  • Refrigerated spot freight rates are up 21% from February – $3.09/mile (Source DAT) – first time above $3
  • Meanwhile retailers have not let up on demands for on time, in full shipments – another very-real cost
  • Labor costs (as discussed last week) are being pushed higher by Washington providing supplements to unemployment benefits and Amazon increasing the wages for warehouse workers
...plus fuel has not fully recovered from the pipeline shutdown!