National Freight Rates Declined 14% in Nov but Are Up 284% YOY

Miami Beach, FL, December 3, 2021-Freight rates fell 14% overall month-over-month in November to $9,364/FEU, but prices are still 284% higher than last year and more than six times the pre-pandemic norm, reports Freightos. These facts relate to all goods, not only flooring. 

The rise and fall of prices around peak season suggest that normal-though outsized-seasonal trends will take place this year, meaning that as we approach Lunar New Year at the start of February, prices will likely go back up. 

High consumer demand and low inventories are keeping shipping volumes elevated and causing record congestion at LA/Long Beach. The shortage of yard space further slowed operations in November and pushed the number of waiting ships past 80.