Posted on June 8, 2022

Average waiting times for container ships at Shanghai, after having peaked to nearly 70 hours in April amid the pandemic lockdowns have now declined to 31 hours. This is a huge improvement from April.

Ocean freight rates for container shipping have also declined globally from the spike that topped out in September 2021. The Drewry World Container Index has dropped by 26% from the September 2021 high of $10,377 per 40-ft container, to $7,625 as of the week ended June 2.

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