Last week, the cost of shipping containers across the Pacific dropped by more than a quarter, the biggest drop in two years. The decline indicates that the huge demand for Asian exports is slowing, although shipping industry executives say that it will take months for ship congestion outside of the US to clear.
The drop in sea freight rates coincided with the end of the traditional shipping peak season, which began in August and Western importers began loading cargo before the year-end holiday. With most products on the road at least, the space on the travel front is gradually opening up, leading to lower prices.
Post time: Dec-01-2021