Exports to US getting costlier due to clogging at ports with increased container and ocean freights

As the Asia-Europe route continues to rise and approaches $9,000 per Twenty Foot Equivalent Unit (TEU), new records are being hit in container freight spot rates of all carriers, with further rises expected this month. Industry is wary of the situation as unfrequented container and shipping rate surge to a new high due to clogging at the major US ports disrupting the supply chain.