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China to US Shipping Rates Fall

As supply chains have seen record-breaking & mind-numbing shipping costs over the last two years, could there be (some) light at the end of the tunnel for shipping rates?

It looks like freight costs from China to the US have fallen 34% from the beginning of 2022 (although still four times higher than rates in 2020), indicating slowing demand as ports start to clear the backlogs and shippers start to reduce orders (due to high costs and possibly slower customer demands).

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