Freight Rates Shoot Up Due to Rush in Exports

Ocean freight rates are up as much as threefold on year, and the firmness of pricing could remain and help Korea’s shippers for the rest of 2021.
The Shanghai Containerized Freight Index (SCFI) averaged 999.3 in January 2020. It is now about 2,870 points.
Since Oct. 9, the figure has been climbing every week on resumption of manufacturing in China.
Demand for ship transportation usually surges ahead of the Lunar New Year holiday.
This is attributed to tendency of exporters transporting...