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France and Spain battle wildfires as more than 250,000 people are forced to flee homes AP NewsLive updates: Spain and France battle raging wildfires as at least 250,000 people forced to flee CNNLive: France's A400M military plane completes first firefighting mission France 24Volunteers Bring to Aid Tired Crews as Wildfires Rage in Southwest France YahooFleeing a wall of flames: Tourists describe France wildfires escape BBC
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Live updates: Strikes between Saudi Arabia and Houthi rebels open a new front in Middle East conflict CNNIn latest front in Mideast war, Houthis fire missiles and drones at Saudi Arabia Los Angeles TimesIran war live: Saudi Arabia, Houthis trade attacks, escalation intensifies Al JazeeraIran reports first night without new US strikes as Houthis attack Saudi Arabian city Fox News
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After two years of shipping delays and rising delivery costs, relief is in sight. By the end of the year, a marked improvement will be seen compared with a year ago.
The numbers of new drivers and trucks have picked up, easing constraints, though chassis shortages will likely continue into 2023. Spot market rates for trucks, excluding fuel surcharges, have dropped 30% from their peak earlier this year. They should decline a bit more, ending 2023 about 5% above their prepandemic level, according to Avery Vise, Vice President of Trucking at FTR Transportation Intelligence. Contract rates are typically slower to respond, and should ease to 17% above their prepandemic level by the end of 2023. Also, diesel prices are still 65% above prepandemic, so fuel surcharges will continue to be higher than normal. However, if a recession happens next year, then both volumes and rates will tumble.
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Congestion at East Coast ports should ease in the next few months as a new labor contract is likely to be signed for West Coast dockworkers, allowing more vessels to return to using West Coast ports. Ship traffic from Asia is easing as 70% of retailers shipped early this year ahead of the holiday season, after getting burned last year, according to Ken Hoexter, a managing director at Bank of America. Ocean freight rates from China to the West Coast have fallen to $3,900 per 40-foot container, though that is still $2,500 more than the prepandemic average.
Rail freight is the problem child, according to Todd Tranausky, vice president of rail & intermodal at FTR. Freight has been moving at slower than normal speeds this year because of crew staffing shortages. Prior to the pandemic, the railroads embarked on a cost-cutting and labor-saving spree, reducing the wor
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