Freight rates on key trade lane seeing unprecedented surge

With US imports continuing to surge, the cost to ship a laden box to the country from China edged close to $10,000 recently. The spot rate for a 40-foot container from Shanghai to Los Angeles increased to $9,631, up 5% from the previous week and 229% higher than a year ago, according to the Drewry World Container Index. The composite index, reflecting eight major trade routes, rose to $8,796, a 333% surge from a year ago. Rates are projected to increase further, as per a report.

#import #export #business #logistics #cargo #shipping

source- eximin.net