Global Shipping Delays: A Threat to Construction Budgets?

DPR Construction's Q1 Market Conditions Report highlights the challenges of global ocean freight due to drought and conflict, causing longer routes and increased shipping costs. The report recommends mitigation strategies like warehousing, contractor sourcing data, and strong supplier relationships to get better pricing and predictability for construction projects. The report also finds high confidence in the construction sector, especially in advanced technology, manufacturing, and life sciences, despite some material price increases and extended lead times.