The cost of shipping goods from China to the US has finally slumped. The chart below shows the spot rate (that is, the rate it costs to take a shipment half-way round the world ASAP) for taking a 40ft container from China to the US West Coast halved between September and October: Here’s the same chart for the China to East Coast route (data in both instances comes digital freight forwarding company Shifl):It is, industry bods note, largely the result of Covid-19 outbreaks and power shortages in China. So will prices remain this low? Shabsie Levy, founder and CEO of Shifl, thinks so, arguing that agents who took advantage of price increases and congestion by buying up capacity are now (perhaps sensing the market has peaked) looking to unload it fast.“For shippers [somewhat
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The cost of shipping goods from China to the US has finally slumped. The chart below...