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By Mike Wackett
Container freight rates from Asia continued to surge this week, reaching highs far in excess of long-term sustainable levels.
Today’s Shanghai Containerized Freight Index (SCFI) cumulative reading hit a new record of 2,311.71, representing a 162% increase on the same week last year.
After initially lagging behind the massive rate gains seen on the transpacific, spot rates to North Europe now lead the rate race in terms of percentage increase, 230% higher than a year ago.
The North Europe component of the SCFI ...
Comment on this article
oscar encinas
December 12, 2020 at 2:03 amsome one has to top the shipping lines, is not acceptable to increase the rates to the levels that we have today, in september we pay 1700 usd x teu and in december 6200 usd x teu and on top they are charging priority loads of 1250 usd.
they are monsters companies and no one can discuss with then, all small companies has been erased from the market and no competitors at sight, that is not the shipping business that we are looking for,
Lyndon Dupont
December 14, 2020 at 6:41 pmI agree, as would many businesses dependent on imported stock. That’s why I started this petition- http://chng.it/4RYkrnt2
Ben
December 14, 2020 at 3:08 am2010-2019:
Shipping Line: “We would like you to pay a higher price for our better service quality”
BCO: “No, you are a commodity I am not willing to pay higher than market rates”
2020:
BCO: “You should give me a discount and better service for being a loyal customer”
Shipping Line: “I thought you said we were a commodity?”
Xavier Cruz
January 22, 2021 at 12:24 amThis will have more impact on driving US made production than all the tariffs imposed…
Wabusa Simon
January 31, 2021 at 5:08 amThe shipping company should give it’s customers a discount but instead it’s it’s just increasing the rates,oooh my God