Shipping prices have cooled in recent months as some U.S. importers temper merchandise orders amid concerns about elevated levels of inventory and uncertainty about continued strength in consumer spending.
Freight rates from China to the U.S. West Coast stood at $9,585 a box last week, down 34% from the start of the year and 50% from a year earlier, according to the Freightos Baltic Index. Those rates, however, are more than four times higher than in June 2020, and industry observers expect them to remain above prepandemic levels through at least 2023.
