2023-05-30

Ocean freight rate increases and delays With many importers and exporters already shipping holiday inventory, August is likely set a new record for monthly US ocean import volumes. In response to rising demand, ocean carriers have increased transpacific container capacity by approximately 22%. But with no way to increase port capacity, those additional ships are contributing to the new record number of vessels waiting for days outside of LA/Long Beach ports. Ocean freight rates remain extremely high but stable.