Importers who had difficulties with restricted shipping capacity and soaring freight rates during the COVID-19 pandemic are finally seeing some relief on the service side.
The latest Ocean Shipping Index covering the first quarter of 2023, finds a significant reduction in the time it takes “to deliver goods to truck or rail carriers after booking with an ocean carrier and completing the cross-ocean journey.”
The reason for the marked improvement in shipping and port service, as reflected in shorter booking and transit times, was an overall decline in demand for goods shipping out of Asia.