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Freight Rates Hikes

01 Jul 2021 4:42 PM | Sandra Sullivan (Administrator)

China - Yantian International Container Terminal is getting back up to speed but the container shipping backlog at the port could yet take weeks to untangle, leaving many shippers turning to rail to get their cargo out of China. Freight rates from China to North Europe have breached the $20,000 per 40ft mark and although these rates include a premium to secure equipment and space, some shippers are reporting that their cargo is still being rolled. As peak season is approaching shippers need to brace themselves s FAK and GRI rate hikes hit on 1st July.

USA - A report from Container xChange has suggested that containers coming into the largest US import gateway can face detention and demurrage charges over $2,500, triple the global average. The demand surge and resulting vessel delays and port congestion are believed to be the key factors impacting the costs.

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