International Ocean Rates Continue to Surge. What Options Do US Importers Have?

We want to keep you informed on the latest market updates and news. Read the below brief for updates on international market pricing:

Ocean import rates from Asia base ports to the US west coast increased by 35% between the end of July and the end of August. This pushes the current Shanghai Container Freight Index to an all-time high of $3,639 into the USWC.

The impact of the spot rate surge is especially evident when compared year-over-year where the variance between the current SCFI rate ($3,639) and the same index from this time last year ($1,615) is $2,024.

This variance on its own is over $400 higher the actual 2019 rate, a data anomaly that has been true for each of the last 5 weeks.

One of many underlying concerns for importers right now is how to budget for ocean freight through the end of 2020 and into next year?

While certain routing adjustments have offered limited relief, eShipping is helping customers look at the bigger distribution picture and using its country-wide network of distribution centers, which all operate on the same WMS system, to shorten the length of transit between international vendors and the US based end user.

When done right this approach can lower the total landed cost of a supply chain, and actually improve customer experience by speeding up delivery times in an increasing direct-to-consumer market.

Questions? You can learn more and request a quote online at https://www.eshipping.biz/home/international.