News / Shippers' ocean freight budgets 'about to explode' as rates hit new highs

28/08/2020

Ocean freight budgets for shipments from Asia to the US and Europe are going through the roof as carriers prepare yet another round of freight rate increases.

Today’s Shanghai Containerized Freight Index (SCFI) recorded further gains for the transpacific and Asia-Europe tradelanes, taking its combined reading up another 7% for the week, to 1,263.26, which is 54% higher than a year ago.

Container spot rates from Asia to the US east coast, as recorded by the SCFI, jumped $254 per 40ft, to ...