Freight & Shipping Delays
With ongoing pandemic-related delays and closures, non-stop demand for ocean freight from Asia to the US, and a lack of capacity, ocean rates are still very elevated and transit times volatile.
Ocean Freight Rate Increases And Delays
Production in China slowed down this week during the Golden Week holiday. With power outages shuttering factories and with ocean delays, it’s unlikely that shipments not already moving will make it in time for the holidays.
Transpacific ocean rates stayed level this week after a significant drop a week ago. But rising oil prices could mean that carriers will increase fuel surcharges at the end of the month.
Plus, worsening port congestion and delays at LA/Long Beach are keeping Asia-US prices extremely high at more than quadruple their level a year ago.
