With shipping prices falling at record rates, the number of container ships waiting offshore at the Port of Los Angeles–Long Beach has fallen to fewer than 10 from more than 100 in January. The risk of a global recession is rising, according to analysis from experts.
According to Nomura Research Institute, in the first week of September, shipping a container from Shanghai, China, to the U.S. West Coast cost $3,959, down 23 percent from the previous week. That’s a drop of more than $1,000, the biggest since 2009.
