October 16, 2021
IT'S A DEFLATIONARY EPOCH:
Supply-Chain Stress May Have Peaked Already: There's no easy fix for rising costs and bottlenecks, but things are finally trending in the right direction. (Brooke Sutherland, October 15, 2021, Bloomberg)
Don't look now, but the worst may be over for the supply-chain snarls that have plagued shipments of everything from Coca-Cola Co. ingredients to paint, toys and industrial fasteners.Average ocean freight rates have declined for three straight weeks. A composite index of global container prices has fallen back under $10,000 for a 40-foot box for the first time since Labor Day, according to data released Thursday by maritime advisory and research firm Drewry. The cost relief is modest: The freight rate benchmark remains almost 300% higher than it was at this time last year. But the feverish climb in shipping costs at least appears to be waning. Rates had climbed for 23 straight weeks before the recent step back, Drewry data show.
Drop here!
Posted by Orrin Judd at October 16, 2021 7:23 AM