Container Rates from Asia to the US Skyrocket.

[Raptor]

Technically this is not a disaster that involves loss of life but it is indicative of how shipping cost are simply going crazy. This site tracks the cost of a single 40 foot ccu (~ max 45,000 lbs of cargo) shipped from a collection of asian ports (mainly PRC) to the US (NJ) east and West (LAX) coasts.

The current price for said container is $20,586 in May 2021 it was $5,939 in 2019 it was as low as $2,800. Note the same CCU shipped back to the PRC is generally less than $950.

This cost is just to the port. It does NOT include land transportation to the consumer. That can be another $5,000 per CCU depending upon location and handling. 

What does this mean?
1. Anything made in Asia will cost a hell of a lot more due to transoceanic shipping.
2. Land transport costs are already through the roof as proof of that look at the increase in the cost of diesel fuel in your area. On average they are up (per the .gov) ~ 12% since March 2021.
3. The cargo coming from Asia is ridiculously high in proportion to goods the US is shipping to Asia. As proof of that look at the return cost of the CCU to Asia. The price has actually decreased so there are a lot of CCUs sitting around looking for a ride back to Asia.

The key take away is that this transportation inflation is going to hit your budget yet again in about 30 days. Expect prices of any imported goods to increase.

Certain folks are representing that inflation is "transitory"... the CCU rates say otherwise.

Source:
https://fbx.freightos.com/freight-index/FBX

[sheddi]

This (long-form) article is popping up on various sites and tells the same story from the perspective of a consignment of fertiliser:

https://www.stuff.co.nz/business/world/300395441/covid19-one-stuck-box-of-fertiliser-shows-the-global-supply-chain-crisis

Somewhere in the world's busiest port of Shanghai, a container of fertiliser sits among tens of thousands of boxes, waiting for a ride to the United States.

It's been on the dock for months, trapped by typhoons and Covid outbreaks that have worsened major congestion in the global supply chain network.

While the fertiliser has been stranded there since May, the port is just one stop on the long journey from central China to the US Midwest.

Delays have stretched a delivery that ordinarily would take weeks to more than half a year. And that time frame will keep expanding, as the goods have barely started the roughly 15,000 kilometre trek.

[MPMalloy]

So much for the rumored CoLA this/next year.

[Raptor]

It took Kranig months to secure boxes and spots on several ships that would leave from Shanghai.

Based upon these prices I am willing to bet that most the boxes (CCU) that Kranig needed were in US ports.