Tuesday, March 30, 2010

Container Shortage Hurts Ag Exports

Oceangoing bulk containers are again in short supply in the U.S. and rates are soaring. From the West Coast to Asia, they’re up about $200 per 20-foot unit since June, talk is that carriers will hike rates by at least $240 more in April, space on ships is short, too. Carriers have stopped taking some bookings and revoked others. 93% of containerized ag exports go to East and Southeast Asia.

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