Ocean freight rates are rising steadily as high demand has led to a shortage of containers and to congested ports, reports korea joongang daily.
SCFI A Record HighThe Shanghai Containerized Freight Index (SCFI), a barometer of ocean freight rates, hit 3,343.34 points on May 14, a record high. On year, it is up three-fold.
While the SCFI has been rising steadily during the pandemic, it has spiked since March when the Ever Given blocked the Suez Canal for six days.
Forty-Foot Equivalent UnitA...