Market panic triggers sharp surge in container rates

Market panic triggers sharp surge in container rates

An article published on today's Container News website caught the attention of our ocean freight teams as it reports that according to the latest analysis of the shipping consultancy Linerlytica, the market panic over tightening vessel space availability has sent the Shanghai Containerized Freight Index (SCFI) to its highest level since September 2022, rising by 18.8% after last week’s holiday break to hit a 20-month high.

That certainly makes interesting reading for Davies Turner with our comprehensive network of international container shipping services, including LCL and FCL import and export operations

The report indicates that unlike the surge in January, when the rate hikes were largely limited to the Red Sea-affected routes, the gains are more broad-based this time with sharp rate hikes on all long-haul routes on the back of a strong rebound in demand ahead of the summer peak season.

Linerlytica says that some carriers appear to be adding fuel to the negative rhetoric and doubts whether the effective capacity situation is as dire as those carriers suggest.

You can read the full article here: https://container-news.com/market-panic-triggers-sharp-rate-surge/

Davies Turner remains committed to helping clients manage the difficult situations facing container shipping at present and mitigate where possible additional costs incurred. Our ocean freight teams will endeavour to keep in close contact with all clients to provide updates on specific movements.

For more information about Davies Turner’s ocean freight forwarding and logistics services, please contact ocean@daviesturner.co.uk or visit the relevant pages of this website.