With ongoing pandemic-related delays and closures, non-stop demand for ocean freight from Asia to the US, and a lack of capacity, ocean rates are still very elevated and transit times volatile.
Transpacific ocean rates have been more stable at the start of the year. Despite this stabilizing trend, rates remain 8-9X higher than the pre-pandemic norm.
Continued disrupted schedules and port congestion, combined with omicron slow downs and Lunar New Year, mean that importers have yet to see any significant improvement in shipping conditions in 2022.
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