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Major forwarders are engaged in fierce bidding wars in China, in order to secure equipment and space to North Europe. And several carriers are reported to have opened first- and second-round tenders with the highest bidders for guaranteed shipment this month. According to Chinese forwarder contacts, carriers are inviting offers for available slots...
Accurate forecasting by shippers will be crucial to manage their shipping requirements – and costs – efficiently, as air freight rates look set to remain high this year. The Baltic Air Freight Index saw a 100% year-on-year increase this week, while the past few weeks have seen the highest readings since the Q2...
The final Shanghai Containerized Freight Index (SCFI) for 2020, published on 31 December, recorded a staggering 190% gain on the year. The biggest spot rate increase on its major tradelanes was recorded between Asia and North Europe, which saw the SCFI component leap by almost 300% to finish the year at $4,091...
At this time of year, industry correspondents would normally chew a pencil and ponder the events of the past 12 months, and speculate over what is likely to happen in the year ahead… Well, that’s just not going to happen today – I haven’t the foggiest idea what’s going to happen in...
Record high spot rates from Asia to North Europe and predictions of huge hikes for annual contract rates could lead to a rush of cancelled orders for next year. Retailers in Europe are already nervous about new partial lockdowns stymieing their sales, and the enormous sea freight rates and surcharges they are...
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...
Container freight rates from Asia to Europe are going through the roof, mirroring the trend on the transpacific, with regulators seemingly unable to stop the relentless onslaught on shippers that threatens to sink business. European and US importers outside or in excess of contract are seeing their freight budgets destroyed by unprecedented...
Container spot rates continued to climb on the Asia-Europe trades this week on the back of strong demand and extremely tight capacity, in terms of both vessel and equipment availability. Today’s Shanghai Containerised Freight Index (SCFI) published a rate of $1,508 per teu for Shanghai-North Europe, an increase of $262 per teu...
Container rates across main and secondary tradelanes are exploding, with no hope of any easing of the pain for ocean freight shippers in the coming weeks, or possibly even months. Today’s Shanghai Containerized Freight Index (SCFI) comprehensive index value has doubled since May, with several tradelane components recording gains in spot rates...
Container shipping spot rates on the main deepsea east-west trades this week maintained the historic highs seen in recent weeks. Today’s Shanghai Containerised Freight Index demonstrates that carriers continue to hold the upper hand as the annual round of contract negotiations on the Asia-Europe trades looms. The SCFI’s Shanghai-North Europe route ticked up...