Surge in Demand Drives Up Shipping Costs for U.S. Importers

Via Metal Miner An unexpected surge in demand could complicate global import logistics, raising prices for U.S. importers. So far, global GDP growth has remained broadly positive this year, with growth rates consistently above expectations. Reports also indicate that manufacturing PMIs are at their highest level in almost two years, and a rising demand for shipping space seems to reflect this.

The increase in demand has taken the market by surprise. Normally, the peak season would be in the fall, and spring would be considered a quieter time. There…