Shipping congestion is finally starting to ease. Along with a reduction in disruptions comes a drop in shipping prices.
Chinese exports have slowed due to less interest from western importers. With one previously high-traffic location now slowing, container shortages and port congestion have the breathing space needed to catch up.
Shipping a container will cost nearly $3,700, down from the pandemic record high of $10K, but still 160% higher than the pre-covid rate of below $1,500.