Analyst Pin-board Container Shipping: Extraordinary Growth in Global Freight Rate Shows No Sign of Relief
- Congestion has been spreading over terminals in China, Northern Europe, and Northern America due to the Covid-19-induced supply chain disruption, and as a result, intercontinental freight rates are continuously rising. The World Container Index (WCI) has more than doubled since the beginning of the year (from USD 4,359/FEU to USD 9,421/FEU).
- Pressure from growing transport demand, amid a shortage of vessels and equipment, has pushed charter rates up sharply (Harpex Index has tripled YTD).
- Despite the sharp increase in international rates, domestic rates have not fluctuated much due to the disproportionate transport demand as well as sufficient transport capacity of domestic shipping liners
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