Market Updates
China-L.A. Freight Rates Drop, Congestion Shifts to East Coast
Hossain Akhtar
11 Apr, 2022
New York City
Container freight rates have dropped more than estimated in March after congestion at Long Beach and Los Angeles ports eased faster than expected. Ships waiting to unload have dropped to 14 from the record high of 109 on Jan 9 and rates from China dropped to $8,000 from the high of $9,500 in March. Shippers are planning more direct routes to the East Coast ahead of labor negotiations in July.
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