Container rates have declined by 9% on shipments from Shanghai to Los Angeles and New York. See the Container Rate Pricing Section under Quantitative.
The ports of Los Angeles and Long Beach will postpone the start of a fee on ocean carriers that fail to clear containers off the docks. Meanwhile, railroad tracks near the Port of Vancouver have been shut by heavy rains and mudslides in British Columbia.
“U.S. Trucking Freight Rates Rise Most in Decades,” Vince Goll, Bloomberg Rail service in and out of the Port of Vancouver has been cut off due to flooding.
“A proxy for U.S. trucking freight rates jumped in October by more than 36% from a year earlier, the biggest annual increase in data back to the early 1990s, according to the latest figures from Cass Information Systems. The calculation is derived by dividing the Cass freight-expenditures index by its shipments gauge.” “U.S. Trucking Freight Rates Rise Most in Decades,” Vince Goll, Bloomberg