Ocean Freight Rates Surge +400% — But Demand Isn’t Driving It

Ocean freight spot rates have skyrocketed by over 400%, but surprisingly, demand isn’t the primary cause. This SONAR Update breaks down how capacity control and strategic blank sailings by concentrated ocean carriers are driving prices. Plus, we dive into the state of trucking tender rejections, rising operating costs, and the shift towards a more regulated environment. FreightWaves experts explain what these trends mean for shippers and the broader supply chain. Ocean spot rates have spiked dramatically even as cargo volumes out of China to the U.