Thursday, June 26, 2008

Trucking Crunch, Seaboard Express Closes the Doors

Late yesterday afternoon I was told by one of my vendors of the pending demise of Seaboard Express, Inc. In business since 1977, the news of this is more problematic than surprising, as it was confirmed by six other reputable seafood purveyors in Boston and New England and from employees within the company. Seaboard Express of New Bedford was one of the larger carriers of fresh and frozen seafood that shipped product up and down the Northeast corridor. We have been hearing for some time how the rising costs of diesel, and less than full loads has increased trucker's costs substantially. So that leaves only a handful of existing carriers to fill the void. This is most likely to lead to increased shipping costs, that will in the short term be absorbed by intermediate parties. But the net result is less competition, and rising costs that will eventually be passed onto the end users. It is always hard to see a company close, so I wish the former employees and principals all the best.

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