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Posts tagged “Ocean Freight Rates”

 
Ocean rates continue to climb as peak season heats up 
 
Demand for ocean freight capacity on key trades continues to outstrip supply as peak season heats up, pushing listed Asia-North Europe spot freight rates past the US$13,000/FEU mark, “and sending Europe to South America rates spiking more than 30% since last week”, the latest spot market figures and analysis from digital freight platform Freightos indicate. 
 
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Ocean freight spot rates continue to surge 
 
Ocean freight spot rates have continued to surge over the last week, with average rises close to 5% compared with the previous week across the eight major East-West trades assessed by container shipping specialist Drewry, and further rises expected this week. 
 
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South China port disruptions ‘could extend to Christmas’ 
 
Dwell times at the major ports in and around the south China city of Shenzhen “remain disruptively high”, despite trending downward in recent days with the Port of Yantian at full capacity again, according to freight visibility platform Project44. 
 
It said the data suggests that disruptions related to China’s COVID-19 quarantine efforts could extend well into the year, impacting seasonal shipments as far out as Christmas. 
 
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Shipper competition driving up ocean freight rates 
 
Rates will keep rising while there is more cargo than capacity to ship it, with some cargo owners on long-term contracts and high volumes benefitting from their scale and gaining a significant competitive advantage 
 
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