Ocean shipping rates are expected to stay elevated well into 2022, setting up another year of booming profits for global cargo carriers ¡ª and leaving smaller companies, and their customers from Spain to Sri Lanka, paying more for just about everything.
The spot rate for a 40-foot container to the U.S. from Asia topped $20,000 last year, including surcharges and premiums ¡ª up from less than $2,000 a few years ago ¡ª and was recently hovering near $14,000.
What¡¯s more, tight container capacity and port congestion mean that longer-term rates set in contracts between carriers and shippers are running an estimated 200% higher than a year ago, signaling elevated prices for the foreseeable future.
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