Rec'd from one of our bearing suppliers today:
As you are likely already aware, the transportation and freight market continues to experience unprecedented challenges and disruption. In the past 60 days, overseas freight costs have spiked and risen to the point that the current cost to transport a 20-foot shipping container from China to North America is now more than $20,000. This represents a price increase of more than 354% since September, 2020. In addition to the baseline shipping cost, freight companies have also added premiums and surcharges related to the current challenges impacting the global supply chain.
Based on current market conditions driving this logistical price surge, ***** will implement an additional 7.3% transportation surcharge effective with any orders invoiced to your company on or after October 1, 2021. This surcharge will only apply to products we supply to your company that are manufactured in China.
