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.
With many importers and exporters already shipping holiday inventory, August is likely set a new record for monthly US ocean import volumes.
In response to rising demand, ocean carriers have increased transpacific container capacity by approximately 22%. But with no way to increase port capacity, those additional ships are contributing to the new record number of vessels waiting for days outside of LA/Long Beach ports.
Ocean freight rates remain extremely high but stable.
- Asia – US prices went unchanged this week, but are still 5X their level a year ago.
- Asia – US East Coast rates are still more than $20K/FEU.
- Asia – Europe rates are at record levels – 8X this time last year – but have also remained stable.
Basically, freight is really expensive, but with close to no capacity many importers and exporters are willing to pay premiums in addition to these rates just to keep their goods moving.
We checked with our shipping agent company ,the average freight cost increased about 3-5 times than last year ,and the shortage of containers is still serious ,especially for America lines .
Facing such difficult situation ,we have advise our clients to book shippment as soon as possible ,much earlier than ever , we usually book shipment about 7-10 days ,but we have to book 1 month in advance ,and even this way ,it is still possible to miss the shipment date .
Some shipping company plans to build big vessel and buy more containers ,but that is obviously late solution to solve the shortage of containers and to improve the shipping issues . But ,except this way ,we don’t see other forcast good news for a better solution in the soon future ,maybe this kind situtation will last to the end of 2022.
Post time: Sep-13-2021