FAQ?
Are ocean shipping prices collapsing?
Prices in the most volatile segment of ocean shipping are collapsing, but top retailers like Walmart and Home Depot should not expect relief until the spring contract renegotiation season, industry experts said.
How much will container shipping cost in 2022?
Meanwhile, long-term contract rates finished 2022 about 20% lower than the pandemic peak of more than $8,000 per container, according to maritime consultancy Drewry, which expects contract rates to halve in 2023. That forecast would put rates at about $3,200, versus the pre-pandemic rate of around $1,500.
How much does it cost to send a container from Asia?
The cost to send a container from Asia to the United States on the demand-sensitive spot market has tumbled more than 80% from its September peak above $20,000 for a 40-foot container, according to freight booking platform Freightos.
What's happening with Maersk and other carriers?
At the same time, Maersk and other carriers told investors they would continue to prop up rates by cancelling voyages to match shrinking demand. They are also scrapping small, old "rust buckets" to cut capacity.
