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Rising Ocean Freight Costs Are Starting To Feel Like The Gas Pump Gouging Of The Past

For those continuing business where they can and also importing goods from China, things have become much more difficult in the last month.

The Ocean Cargo Alliances of the world have implemented 3 general rate increases in 1 month, starting on June 01/2020, again on June 15/2020, and finally on July 01/2020. And if you think that they could not go higher, there is still talk of another increase on July 15/2020, as well as a possible “Peak Season Surcharge”.

If you plan on shipping from China in the second half of 2020, expect high prices with no relief in sight.

The attached article goes into depth.

FEU = Forty Foot Equivalent (40’ Ocean Shipping Container)