Fears Are Rising that Ocean Freight Rates May Surpass US$20,000 with No Relief for Global Trade into 2025

A major global trade inflation indicator is headed in the wrong direction. Rising freight rates are a new source of concern in the global supply chain, with forecasts warning that ocean cargo prices could reach $20,000 – potentially even touch the COVID-era peak of $30,000 – and stay there into 2025.

Spot ocean freight rates from the Far East to the U.S. popped between 36% and 41% month over month, and ocean carriers increased additional charges known as general rate increases by roughly 140%, according to the CNBC Supply Chain Heat Map. These costs have taken the price of a 40-foot cargo container to about $12,000.

Read more in an article from NBC.