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IPFS News Link • Business/ Commerce

Ocean Shipping Costs Decline 84 Percent, Truckers on Verge of Losing Money

•, By Mish

No Backlog at California Ports 

The Wall Street Journal reports Southern California's Notorious Container Ship Backup Ends

Key Stats 

The queue of ships waiting to unload at the ports of Los Angeles and Long Beach fell from a peak of 109 ships in January to four vessels this week.

Descartes Datamyne, a data analysis group owned by supply-chain software company Descartes Systems Group Inc., says container imports to the U.S. in September declined by 11% from a year earlier and by 12.4% from August.

Shipping lines have canceled between 26% to 31% of their sailings across the Pacific over the coming weeks, according to Sea-Intelligence

In September of 2021 the average cost for shipping a container from Asia to the U.S. West Coast exceeded $20,000. Last week, the average cost to ship a container from Asia to the U.S. West Coast had declined 84% from a year earlier to $2,720.

Extraordinary Progress 

Anarchapulco 2023