Reported about 23 hours ago
Ocean shipping rates have skyrocketed by 88% for trans-Pacific routes since May 3, reaching $6,100 per forty-foot equivalent unit, as shippers react to a temporary pause in U.S.-China tariffs. Analysts note this surge reflects shippers' urgency to move goods, leading major liner operators to increase spot rates significantly. The trend is mirrored in other regions, indicating a broader impact on global supply chains, though this spike is anticipated to be temporary as capacity returns and supply chain pressures ease.
Source: YAHOO