Our Man in DC Speaks to the Press About Crisis at Our Ports

Jack Hubbard, Editor

The high demand in the US for imports has pushed container freight rates from China to the US West Coast seaports beyond $4,000 per container, while average prices to ship goods by container from Los Angeles to Shanghai in recent weeks was $518.
For carriers, that means it makes more financial sense to hustle boxes back to Asia rather than wait for them to travel inland for several weeks to reach exporters and then return to coastal gateways.
The National Retail Federation said major US ports imported 2.11 million containers in September, 12.5% more than the year before, and the highest monthly total in records going back to 2002.
(Per Wall Street Journal, Nov 21 and Nov 22, 2020)


Our Man in DC Speaks to the Press About Crisis at Our Ports Jack Hubbard, Editor The high demand in the US for imports has pushed container freight rates from China to the US West Coast seaports beyond $4,000 per container, while average prices to ship goods by container from Los Angeles to Shanghai in recent weeks was $518. For carriers, that means it makes more financial sense to hustle boxes back to Asia rather than wait for them to travel inland for several weeks to reach exporters and then return to coastal gateways. The National Retail Federation said major US ports imported 2.11 million containers in September, 12.5% more than the year before, and the highest monthly total in records going back to 2002. (Per Wall Street Journal, Nov 21 and Nov 22, 2020)
CBFANC Newsletter - copy of November 2020 - Info Expeditor