FOR IMMEDIATE RELEASE:
Nail Update - Ocean Freight Rates from Asia
Dear Valued Customer;
Abington, PA (03/02/2022) – As the leading importer of roofing nails in the United States it is our responsibility to keep our customers, and the market, informed of events and trends effecting the market. As our customers know we try to be the most transparent supplier in the market. We provide you a freight rate on your quote, which is really a place holder, and then when the container ships you would be billed any excess freight if the freight is more than 3% higher or a credit if lower. No sense talking about the tripling of rates in 2021, but we do think it is important to let you know what we are seeing so far in 2022.
We have seen ocean freight rates drop 30 – 40% on many lanes from Asia to the US. We don’t know if this will remain as it is, though some of this is due to lighter shipping around the Lunar New Year holiday, and also due Olympic Games plant closings. We thought rates would bounce back up in March, but it appears they will be staying at the lower levels for March as well.
What does this mean to you and your containers? Again, the freight you pay is based on shipment time not arrival. If the freight attached to your load is less than your quote, you will see a credit on the invoice when you receive it. Already, we have seen many orders come in with no excess freight.
Be careful when you hear of low quotes out there; because others will use the current low rates and then when the rates recover will be right back where this all started in 2021, and they will either never ship the order or just pass through the increase to you.
Availability of containers and logistics issues are still prevalent. CMI continues to ship 95% of all roofing orders timely.
Only CMI shipped over 4,000,000 boxes of roofing nails in 2021 and with the best on-time performance in the market.
Continental Materials, Inc. (CMI) is a national supplier of roofing system component materials and known for BUR (built-up roofing) asphalt with “No Smell”™ odor eliminating technology and its WeatherSeal™ protective packaging, All-Weather™ asphalt felts and coated organic rolls, CMI All-Weather™ modified bitumen rolls, SureGrip™ construction fasteners and roofing nails, Continental’s eco-friendly high density fiberboard roof insulation board and a premium line of SecureGrip™ synthetic roof underlayment products that are sold and used widely throughout the country. CMI has provided value added products and superior service to the roofing industry since 1958.
For more information on CMI products, call (215) 884-4930, visit www.continentalmaterials.com or contact your local CMI Sales Representative.