Increased capacity has "cast doubts on the sustainability of the high rates of growth enjoyed by the sea freight sector," reports UK-based Transport Intelligence. That means shippers could soon be getting a break on rising rates out of Asia, especially China.

One analyst estimated rates could drop by as much as 6.8 percent by 2006, though most forecasts are more moderate.

Congestion at Chinese ports and terminals compounded by weak infrastructure has artificially tightened capacity, but new ships and additional port facilities will help alleviate the crunch.

When compared to the U.S., logistics costs in China are very high. For example, logistics costs in China are 25 to 30 percent of overall product costs versus 5 to 7 percent in the United States. Moreover, transportation and logistics costs in China are up to 19 percent of China's GDP compared to 7 percent of the United States.