Friday, October 01, 2021

The Days of a $1,600 Shipping Container Will Never Return

According to Eamon McKinney, Ph.D., M.B.A., (sinologist) and an expert on China-related business, pre-Covid-19, the cost of shipping a container from Shanghai to Los Angeles was about $1,600. Today, if you are lucky enough to get one, it could cost you up to $20,000 to ship that container. The problem is mainly due to a chronic shortage of containers. 

The expert [a speaker from a major steel producer] that Eamon references in his article, predicted that by the end of the year, after the Christmas rush, it would see prices fall to around $5,000 per container for said route. He was, however, emphatic that the days of a $1,600 container will never return.

He ends the article with:  "Onshoring to an American supply base is the future for American industry. I hope U.S. OEMs recognize this before it’s too late to address the country’s manufacturing decline."

Read the entire article published at Industry Week.

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