(Austin, TX – August 6, 2008) Austin-based uShip today
released July 2008 figures from the Transportation Price Index (TPI), found at www.transportationpriceindex.com, which rose 7.78% overall
to $2.77 from June 2008. The July 2008
TPI represents an increase of 8.63% from $2.55 in July 2007. The TPI is
released on a monthly basis and was designed by uShip to track important data
related to transportation costs. This innovative measure uses proprietary,
transactional information from the uShip marketplace to provide aggregate and
categorical pricing figures expressed in US dollars per ton-mile.
Diesel prices fell slightly more than 1% for the second
consecutive month but remain up over 61% since July 2007. The TPI had been
lagging behind rising diesel prices for months, but finally spiked, rising
nearly 18.5% from May to June 2008. The TPI continues to climb, though its
growth may be curbed by more stable diesel fuel prices.
According to uShip CEO Matt Chasen, “With the recent sustained
increase in diesel prices, the sudden jump in the June TPI seemed almost
inevitable.” Chasen notes that if diesel costs start to climb again, the TPI
will likely follow suit. “The slight drop in the cost of diesel over the last
two months is encouraging, but fear of continued increases in fuel costs may
keep transportation prices at their current, elevated levels. If those fears concerning
future fuel cost increases come to fruition, it is likely they will be
reflected in future TPI calculations.”
Looking at major categories which factor into the TPI
calculations, the price of transporting vehicles dropped almost 10% when
compared to June after showing an increase of more than 6% the previous month. The
decrease in vehicle transport cost played a significant role in slowing the
overall growth in the TPI this month. On the year, however, the price of
transporting vehicles, motorcycles, and boats remains well above July 2007
levels, with the vehicles category up over 23%, and motorcycles and boats up
19% and 27%, respectively. Motorcycle and boat transportation prices have remained
relatively stable since June 2008.
The household goods category showed an increase of
nearly 6.5% in July but is down slightly to $3.79 since last year. Freight showed a significant drop of just
over 20% for the month and is now at $0.55, almost 7% lower than its July 2007
For more information about the TPI and its
methodology, please visit www.transportationpriceindex.com.
To request an interview with Mr. Chasen, please contact Mickey Millsap at 800-698-7447
ext 102. You may also e-mail him at email@example.com.
High resolution images are available upon request.
Founded in 2003, uShip is the first and largest online marketplace for
shipping services. Members list anything they need shipped, from household
goods to vehicles to freight, and receive bids from thousands of feedback-rated
service providers, including movers, carriers, transporters, van lines, freight
brokers and independent service providers. On any given day, there are
thousands of shipments listed on uShip representing millions of dollars of
business. It's totally free for members to list shipments and for service
providers to place bids. uShip's reverse-auction format and patent-pending
search technology dramatically reduce shipping costs by allowing service
providers to find shipments along their routes and fill empty cargo space.
uShip's feedback system holds service providers accountable for their service
and rewards those that perform well. Please visit www.uship.com for more information.