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Has the sea freight rate started to drop?

September 1, 2021

According to the market dynamics we have been learned to recently, the ocean freight rates have fluctuated slightly in the past week. Yesterday(August 31), our marketing colleagues learned that the sea freight from Shenzhen to the Norfolk port in the United States dropped by US$500 within half an hour. Sea freight to other ports has also dropped slightly. A 40HQ container from Shenzhen to LA or LB or Vancouver has dropped USD 1,000 to USD 2,000 in the past week. However, the ocean freight is still high. It will take some time for sea freight to return to normal.

In this regard, we suggest not to be optimistic. Nowadays, the shipping market is changing rapidly. Maybe it will cost US$20,000 per container today and US$16,000 per container tomorrow. In the future, shipping costs may fall or continue to rise, but we guess the possibility of a decline is relatively large. Everything depends on market changes.