Non-stop demand for ocean freight from Asia to the US continues to overwhelm major US ports, keeping ships waiting outside several major West Coast ports and driving air cargo rates up as importers seek alternatives.
Though the Ever Given was cleared before the end of March, the effects at Europe’s ports and the resulting increase in rates were only felt in mid-April when the surge of delayed and scheduled ships arrived all at once. This has led to delays, backlogs and a worsening empty container shortage at Asian origin ports.
While the huge ship was liberated, global trade is beginning to feel the hit on both capacity and pricing. It will likely take months to recover completely.
Finally, with retailers still struggling to keep inventory levels up and already looking to get a leg up on peak season, there may be no relief from high costs, long delays, and equipment shortages.
