PUBLISHER: Container News (container-news.com)
The pandemic-driven surge in demand for ocean imports catapulted global freight – and rates – to new levels of infamy in 2021 and 2022.
According to Freightos, logistics costs have played an important role in spiking inflation and they may play an equally important role in its easing as rates fall and operations normalise.
Transpacific ocean rates to the West Coast have stabilised at 2019 levels for about a month now, and prices to the East Coast are just 12% higher than in December 2019 as demand and congestion ease.