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Freight Rates on the Rise and Box Carriers Get Ready to Reap the Rewards

(Mike Wackett – The Loadstar)

Container spot rates from Asia to the US, and Asia to Europe were given a lift this week ahead of August GRI and FAK increases.

The increase was most notable on the transpacific where the Shanghai Containerized Freight Index (SCFI) components for the US west coast and the US east coast leapt 37.6% and 20.2% respectively, to $1,687 and $2,685 per 40ft.

Spot rates between Asia and North European and Mediterranean ports enjoyed more modest increases, with the full impact of $250 per teu FAK hikes not being felt so far. Click here to read more.

Related: Ocean Carriers to Profit Through Oligopoly (Port Technology)