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More than 500% in a year! Container freight costs in China and the United States exceeded $20,000, a record high

release time:2021-08-07 | article source:

1、Shipping prices have risen this year as the global economy rebounds and commodity demand recovers. Container freight from China to the U.S. hit a record high of more than $20,000 (40-foot containers), driven by rising orders from retailers ahead of the U.S. shopping season, putting pressure on global supply chains.

2、Philip Damas, managing director of Drewry, a shipping consultancy, said: "These factors have made global container shipping a highly chaotic and undersupplied seller's market, with shipping companies charging four to 10 times the normal price for transporting goods. "

3、Freightos data shows that freight from China to the west coast of the United States is just under $20,000, while the latest freight from China to Europe is close to $14,000.

4、Soaring container freight costs have led to higher charters for container ships, forcing shipping companies to reduce their less profitable transatlantic and intra-Asian routes and prioritize services on the most profitable routes.

5、Tan Hua Joo, executive consultant at Alphaliner, a research consultancy, said: "Ships can only be profitable on routes with higher freight rates, which is why capacity is mainly transferred to the US. "

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