Home Why Mallory Services Locations Resources Careers Contact Us NEWS & EVENTS Limited Vessel Space Leads to Growing Rates Aug 5, 2021 | News & Events | With so many unforeseen incidents stalling global trade, ongoing delays have sharply reduced the system’s effective capacity and put upward pressure on shipping rates that began reaching record highs months ago. Unfortunately, carriers have no extra ships to meet a tidal wave of freight demand, containers are in short supply or can’t get quickly repositioned where needed, and destination ports are piling up with boxes because they can’t keep up with the volume. The logjam has been adding weeks of delay for major export trades from Asia. Some shippers say they are unable to get containers or space on vessels at ports of origin, as demand for ocean freight continues to outstrip supply, keeping ports congested and prices high. One report shows Asia-U.S. West Coast rates six times higher than a year ago, and the price for shipping to the U.S. East Coast has quadrupled. Rates from Asia to Northern Europe climbed 4% since last week, and are more than eight times higher than a year ago and 2.5 times more than at the start of the year. The massive tide of imports has flooded air transport, trucking, rail and warehousing, thus overwhelming capacity in many commercial centers. Carriers have canceled many sailings to help restore schedules. Unfortunately, these blanked sailings come at a time when the global supply chain needs more capacity, not less. Source: Freightwaves News & Events Reminder: Implementation of Revised Lacey Act Provisions COVID Threatens Chinese Exports as US Struggles to Restock Inventories Carriers Continue to Shift Capacity to More Lucrative Trade Lanes Limited Vessel Space Leads to Growing Rates Ever Given Finally Sets Sail From Egypt Traffic Mitigation Fee at LA/LGB Port To Increase in August CN’s Open Gateways Commitment in CN-KCS Combination Provides Ag Customers Access They Want Updated Equipment Shortages at China Ports Egypt Expects Ever Given Compensation Deal Signing Next Week US West Coast Ports Prepare for Elevated Peak Season Imports Global Headquarters Mallory Alexander International Logistics, LLC 4294 Swinnea Road Memphis, TN 38118 PHONE: 1-800-257-8464 FAX: 901-370-4288 myMallory PORTALS Supply Chain Visibility RELATED SITES Mexico PAYMENTS Pay Online Sitemap SERVICES Import Export Domestic Warehouse Technology Supply Chain Consulting Fine Art Resources LOCATIONS CAREERS CONTACT US PRIVACY POLICY Copyright © 2021. All rights reserved Mallory Alexander International Logistics Inc. Privacy Policy We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party websites. Third party cookies may track your use of the Mallory Alexander's website. If you continue to browse without changing your settings or you click "Accept", we'll assume that you are happy to receive all cookies on this website. These cookies are completely safe and secure. For more information, please read our Privacy Policy. Accept