After two years of port congestions and container shortages, disruptions are now easing as Chinese exports slow in light of waning demand from Western economies and softer global economic conditions, logistics data shows. Container freight rates, which soared to record prices at the height of the pandemic, have been falling rapidly and container shipments on routes between Asia and the U.S. have also plunged, data shows. "On the other hand, the congestion is easing with vessel waiting times reducing, ports operating at less capacity, and the container turnaround times decreasing which ultimately, frees up the capacity in the market." The latest Drewry composite World Container Index — a key benchmark for container prices — is $3,689 per 40-foot container. That's 64% lower than the same time last September after falling 32 weeks in a row, Drewry said in a recent update.

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