Logistics costs for U.S. businesses rose 3.4% to $1.33 trillion last year compared with 2011, according to a new report by the Council of Supply Chain Management Professionals.
Truck transportation costs rose 2.9%, but looming capacity pressures are expected to push rates up quickly, according to the report released Wednesday, which was sponsored by Penske Logistics.
“The trucking industry is maintaining a balance between supply and demand, a balance that will likely be disturbed when the U.S. Department of Transportation’s new . . . hours-of-service regulations go into effect July 1,” the report said.
The impact of HOS regulations will be to reduce existing drivers’ productivity, leading to a capacity contraction, the report said.
Overall transportation costs increased 3% due to weak and inconsistent shipment volumes and pressure to hold rates.
Railroad transportation costs rose 4.9%, with pressure from trucks in the intermodal market holding rates down, the report said.
Intermodal volume was the second highest on record, while carload traffic declined 3.1%.
Penske Logistics is ranked No. 17 on the Transport Topics Logistics Top 50 listing of North American logistics firms.