Container Freight Rates Spike to New Extremes, up 500% for Asia-US, Asia-EU since Early 2020.

Discussion in 'Intermodal Trucking Forum' started by autopaint, Jul 12, 2021.

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  2. Howard A Read

    Howard A Read Bobtail Member

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    Jul 22, 2021
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    I also heard about this report. The spike in container freight rates was happened due to lack of containers, shipping capacity restraints, port blockage, etc. This issue was an after effect of the Pandemic associated issues. This price hike resulted in the increase of shipping charges for goods from Asia to Western countries. I think this problem has a good solution by using shipping containers which were already used and good in condition to use further. Drewry calls this circumstance a “market shock” that started in June 2020 for the Asia-US trade.
     
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