Container shipping rates are skyrocketing, up 8% this week compared to last week, hitting $1,959 /FEU.
In its customary weekly report, Drewry points out that this is the fourth consecutive weekly increase.
Freight rates on the Shanghai–Los Angeles and Shanghai–Rotterdam routes were the top contenders, both up 9% on a weekly basis, to $2,647 and $1,962 per FEU respectively.
Rates rose by 8% on both the Shanghai–New York route, settling at around $3,837/ FEU, and the Shanghai–Genoa route, reaching $2,111/FEU.
The tariff boom on transpacific routes and those between Asia and Europe are partly attributable to the decision by shipping companies to introduce new General Rate Increases to exert upward pressure on freight rates in the run-up to negotiations on the renewal of long-term contracts.
Translation by Giles Foster
