Comparing Shipping Costs Amid A Problematic Industry | Lojistic [ ](https://www.lojistic.com)- Why Lojistic - [ All Inclusive. Zero Cost. Every Lojistic solution. No limits. No fees. ](https://www.lojistic.com/pricing) - [ All Modes. All Carriers. All Currencies. 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Parcel, LTL, truckload, ocean, rail, air freight. ](https://www.lojistic.com/carrier-connectors) - [ Industries Served Retail, eCommerce, 3PL, manufacturing, and more. ](https://www.lojistic.com/industries-served) - [ Roles Most Impacted & How Supply chain & logistics, procurement, finance leaders. ](https://www.lojistic.com/roles-most-impacted) - [ Use Cases How Lojistic helps manage and reduce shipping costs. ](https://www.lojistic.com/use-cases) - Platform Features - [ Global Analytics & Reporting Predictive analytics and scenario modeling for all carriers globally. ](https://www.lojistic.com/shipping-analytics-software) - [ Rate Optimization & RFPs Tech-powered data prep, strategy, and rate impact analyses. ](https://www.lojistic.com/rate-optimization-rfps) - [ Parcel and Freight Audit & Payment *+PAY* Carrier refunds and payments automated and made simple. ](https://www.lojistic.com/freight-audit-and-payment) - [ GL Coding & ERP Sync Automatically code shipping costs down to the order level ](https://www.lojistic.com/gl-coding-erp-sync) - [ Lojistic API & App Integrations Easily integrate normalized shipping data to your business systems. ](https://www.lojistic.com/api-app-integrations) - [Pricing](https://www.lojistic.com/pricing) - [About](https://www.lojistic.com/about) - [Company](https://www.lojistic.com/company) - [Culture](https://www.lojistic.com/culture) - [Careers](https://www.lojistic.com/careers) - [Partner Programs](https://www.lojistic.com/partner-programs) - [Security](https://www.lojistic.com/security) - [Media](https://www.lojistic.com/media) - [Ratings & Review](https://www.lojistic.com/reviews) - [Videos](https://www.lojistic.com/videos) - [Blog](https://www.lojistic.com/blog) - [Contact](https://www.lojistic.com/contact) [Create Free Account](https://app.lojistic.com/demo/connect-carrier?activeStep=create-account&trackDemo=false) [View Demo](https://app.lojistic.com/demo) [ Log In](https://app.lojistic.com/demo/account/login?trackDemo=false) Comparing Shipping Costs Amid A Problematic Industry ==================================================== ![Icon denoting blog author information in Lojistic’s content layout](/images/pages/blog/icon-author.svg)Rich Harkey ![Calendar icon used to display blog post dates on Lojistic’s website](/images/pages/blog/icon-calendar.svg)June 23, 2011 Most [freight bill auditing companies](https://www.lojistic.com/freight-audit-and-payment) would tell you that things were going well for their customers until the summer's end in 2008. That's when the credit crisis and worldwide recession hit, causing the commodity and freight markets to collapse. Shipping line operators suffered due to decreased trade, shipyards were inundated with order cancellations, banks tightened loan procedures, and shipping companies' stocks took a nosedive. Shipping rate comparison tools have become all the more relevant in shipper’s ongoing efforts to cut costs. Today's shipping industry faces the harsh new economic reality of downsized demand and production. The resulting upheaval has affected trade credits, shipbuilding deliveries, charters, orders, as well as sales-and-purchases on a global scale. You don't have to look at a freight bill auditing report to realize that shipping company bankruptcies, insolvencies, liquidations and debt restructurings are on the rise. Using a [shipping rate comparison tool](https://www.lojistic.com/shipping-analytics-software/shipping-cost-comparison) to compare shipping costs is now almost a necessity. The overseas shipping industry is also beset with on-going piracy threats, labor supply problems, market instability, protectionism, and tighter freight bill auditing procedures. Many companies are suffering from steep declines in consumption in the West and reduced production in the East—what with Japan's current crises. Shipping a container from Asia to Europe currently pulls in $300 less than break-even. In contrast, companies were getting over $1,500 per container just a few years ago. If you're a shipper, using a shipping rate comparison tool makes sense amidst this chaos. Finally, major carriers like FedEx and UPS are feeling the pinch of higher fuel prices. If they pass these on to shippers, they lose market share to discounters. If they eat the cost, it hurts their bottom line. Their solution: complex rate formulas. All the more reason for shippers using these carriers to turn to shipping rate comparison tools. ![Rich Harkey Headshot](https://www.lojistic.com/assets/public/users/rich.png) Author Rich Harkey Rich Harkey Senior Strategy Manager Rich Harkey is a results-driven professional with extensive experience in the logistics and supply chain industry. As the Senior Strategy Manager at Lojistic, Rich leverages over three decades of expertise to help businesses improve their shipping strategies and reduce costs. With a deep understanding of the requirements of shippers and the operational intricacies of carriers, he excels in everything from optimizing business rules and managing carrier invoices to negotiating carrier contracts. Rich's comprehensive knowledge of the logistics industry, combined with his strategic insights and passion for data analysis, has enabled thousands of companies to gain visibility into their shipping expenses, driving impactful results. 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