First Week of August – Asia to the USA

FREIGHT PRICES FROM ASIA TO THE US

The forecast we made 90 days ago has come to pass. Significant increases are now expanding back into air shipping, which took a sharp increase over the last two weeks. That being said, in spite of these increases, the cost of goods coming from Asia is still, and will continue to be, a good deal for the US buyer and consumer.

NOTES FROM OUR OFFICES IN ASIA

The confirmed Aug 1st General Rate Increase will be assessed at $500. Take note, we do not know what will end up happening, but there is also a General Rate Increase planned for Aug 15th filed at $1000 per container; however, this will likely be negotiated to a different final number based upon market conditions.

US DOMESTIC TRUCK PRICES INCREASE 25% SINCE MAY

There has been an increase in imports (inventory replenishment and e-commerce goods) to west coast ports. This is in turn creating capacity issues and increased rates on trucking; in other words, there are more loads than there are available trucks. We are seeing truckloads $500 - $1,000 more expensive than just a month ago. Drivers are booking loads and then cancelling them to take more lucrative loads elsewhere. It's challenging finding reliable, cost-effective transportation right now.

Image courtesy of DAT

HOLIDAY NOTICES

SINGAPORE
Aug 10 National Day

JAPAN
Aug 10 Mountain Day

THE PHILIPPINES
Aug 21 Ninoy Aquino Day
Aug 31 National Heroes Day

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