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A surge in global demand for imports, particularly from Asia, is driving up shipping costs and creating challenges for U.S. importers, with rates expected to continue rising in the second half of the year.
The North Pacific is set to deliver the biggest swell of the winter for the West Coast on Thursday, December 28.
Ophelia is now near hurricane strength as it approaches the East Coast, threatening to soak the mid-Atlantic this weekend.
Oil prices are set to climb even further this week due to supply disruptions in Syria and the expectation of further crude inventory draws in the U.S.