How Increased Freight Rates Led To A Worldwide Supply Chain Dysfunction

The average spot rate that container carriers charge for shipping containers from Shanghai to the US East Coast shot to a new record of $4,874 per 20-foot-equivalent unit.
Freight rates for shipping containers from the US West Coast to North Asia are languishing at $600 per 40-foot equivalent unit.
The Port of Los Angeles reported that imports of “loaded” containers for the four months of August, September, October, and November soared by 22% from the prior year, to 1.96 million TEU.
The...