Container freight indices are on the rise again, but even at their highly elevated levels they mask the true cost of shipping. For example, the Freightos Baltic Index (FBX) North European component jumped by 6% this week, to $7,791 per 40 ft – a huge 450% increase on the rate a year...
There are reports of “sharp increases” in Asia-Europe container spot rates this week, as the fallout from the week-long Suez Canal blockage restricts both vessel and equipment capacity in Asia. Today’s Ningbo Containerized Freight Index (NCFI) North Europe and Mediterranean component jumped by 8.7%, almost matching the 8.6% increase on the Shanghai...
Container spot rates from Asia may have eased slightly from their record highs, post-Chinese new year, but rates for backhaul and secondary trades continue to head north. According to today’s Freightos Baltic Index (FBX), the spot rate for North Europe is $7,684 per 40ft, down from more than $8,000 at the beginning...
Shippers face many more months of inflated freight rates, as ocean carriers show no sign of easing their strategy of keeping capacity tight and favouring high-paying spot cargo. In a customer Q&A session this morning, Hapag-Lloyd CEO Rolf Habben Jansen said the carrier was still “flooded with bookings”. He said: “It will be...
