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[Tuff-Stuff]

Mish<>Ocean Shipping Costs Decline 84%, Truckers on Verge of
Losing Money

October 23

The period between Labor Day and Christmas is typically peak shipping season. Don't expect much of a peak this year

Before the pandemic it was unusual for more than a few ships to wait for a berth
chart

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.

full https://mishtalk.com/economics/ocean-shipping-costs-decline-84-percent-truckers-on-verge-of-losing-moneyl