Contract rates escalating in trans-Pacific amid ongoing congestion

[caption caption="East Coast contract rates inked since Dec. 1 are up 160 percent year over year and 300 percent from 2019, according to Xeneta. Photo credit: Shutterstock.com"][/caption]Long-term contract rates in the eastbound trans-Pacific w…

[caption caption="East Coast contract rates inked since Dec. 1 are up 160 percent year over year and 300 percent from 2019, according to Xeneta. Photo credit: Shutterstock.com"][/caption]Long-term contract rates in the eastbound trans-Pacific will increase dramatically in 2022 from service contracts that were signed in previous years as retailers and...