Today, the TTB will finally be conducting a webinar for importers and we will be attending and reporting guidance from that webinar in a separate communication. At the moment, we continue to expect any goods due to clear in January to have a corresponding assignment in the new portal by year’s end. If you continue to have questions regarding the process, please check the customer actions document here.
One of the most frequent questions we get asked by our customers is when will shipping costs drop?
You may have seen headlines, or TV segments, outlining big drops in shipping costs and delays. Below, you will find two charts that illustrate the huge rise and subsequent drops particularly on lanes which originate in Asia. The second chart shows the benchmark European Index, Rotterdam to NY.
This key European benchmark never rose as high as the Asian lanes and unfortunately, it continues to remain robust driven by demand. Anecdotally, some 3PL warehouses have reported November inbound shipments were up as much as 300% vs. 2021, though MTD activity is beginning to align with more typical quantities.
We do anticipate that costs from Europe will fall next year, and any drops will be reflected in our pricing.