It’s a tale of two oceans: The price to ship containers of cargo from Asia to the U.S. across the Pacific continues to recede from record levels. In contrast, the price to ship containers across the Atlantic from Europe has risen through 2022 and is still hovering near all-time highs.
Vessel backups remain historically severe off Savannah, Georgia, New York/New Jersey and Houston, whereas conditions have dramatically improved off Los Angeles/Long Beach. Reduced congestion is a negative for spot...