Trucking rates in the U.S. are nearly 30% higher than previously recorded in April of 2021. This increase is largely due to fuel costs, which are up almost 40% since last year. But also there is the issue of accommodating the 60 to 40 percent import to export ratio. Decreasing exports and increasing imports are creating problems at crucial junctures in logistics. Ports cannot stage export containers because the import containers have yet to be removed. This then creates a ripple of problems at every subsequent stage. There are not enough truckers available to accommodate the increase, nor warehouse space to hold the cargo. This issue is expected to continue and become even worse once China regains full operation and containers flood the trans-pacific.
Though the outlook on shipping is still bleak, there is some hope and evidence that rates are bound to drop. Timelines will adjust to the new normal, which will create an equilibrium to the buy / sell process.