Financial Times on Nostr: Freight rates rise as companies plan for costly US port strike ========== A potential ...
Freight rates rise as companies plan for costly US port strike
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A potential US port strike next week could cost the economy $5bn daily; the Port of Los Angeles reports a 17% increase in cargo traffic in 2023 as shippers avoid east coast ports; large retailers have expedited holiday imports, raising freight costs by 20%; average shipping cost for a 40ft container from northern Europe to the US east coast increased by 29% to $2,376 since late August; costs from Asia remain stable but may rise if strikes occur.
#FreightRates #UsPortStrike #Economy #ShippingCosts #SupplyChain #Retail #Imports #CargoTraffic #Jpmorgan #Xeneta
https://www.ft.com/content/7fdd7d4a-794c-46f2-95c5-aa317a5163a4
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A potential US port strike next week could cost the economy $5bn daily; the Port of Los Angeles reports a 17% increase in cargo traffic in 2023 as shippers avoid east coast ports; large retailers have expedited holiday imports, raising freight costs by 20%; average shipping cost for a 40ft container from northern Europe to the US east coast increased by 29% to $2,376 since late August; costs from Asia remain stable but may rise if strikes occur.
#FreightRates #UsPortStrike #Economy #ShippingCosts #SupplyChain #Retail #Imports #CargoTraffic #Jpmorgan #Xeneta
https://www.ft.com/content/7fdd7d4a-794c-46f2-95c5-aa317a5163a4