Companies have resorted to raising prices and chartering container ships due to rising shipping costs, with the shipping container cost from China to US hitting a record high in September.
The median cost of shipping a standard container from China to the west coast hit US$20,586, doubling what it cost in July, which was twice what it cost in January.
Shipping backlog is adding to US supply chain delays. While the Port of Savannah is trying to clear a backlog of cargo ships this increased demand for ocean freight is having a spillover effect into airfreight as the looming peak season will soon be upon us.
The rising shipping costs, supply chain challenges, and high demand have forced some companies to take matters into their own hands to ensure they have the products they need.
