Ocean shipping rates are surging as U.S. retailers rush in clothes, electronics and holiday items to get ahead of rising costs caused by tariffs and the Iran war.
The average cost to ship a 40-foot container from China to the U.S. West Coast hit $5,933 on Friday, a threefold increase from the end of February and the highest rate since September 2024, according to transportation intelligence company Xeneta. Peter Sand, Xeneta’s chief analyst, said rates could rise by another 30% before they peak.