A Potential Economic Recession and the Supply Chain Bullwhip are Colliding
“A full 77% of U.S. container imports come from industries that have reported massive supply gluts (retail, electronics, furniture, clothing, and appliances). The national spot index 7-day rolling average dropped from $2.07/mile on June 1 to $1.96/mile on June 20th.
The weekly average of container spot rates from China to the U.S. West Coast has dropped from $15,551 on April 18 to $9,177 on June 16 – a drop of 41% – according to the Freightos Baltic Index.”
Rates are still dropping, quite a bit in some modes of transport. Summit Logistics Group wants to be part of your shipping team. If you have excess inventory that needs to be moved don’t delay! We believe that getting YOUR product to YOUR customers safely and timely is OUR business.