Long-term contracted ocean freight rates rocketed by a further 16.3% over the course of November, consolidating recent gains to leave container shipping costs up 121.2% year-on-year. The latest developments, revealed in the Xeneta Shipping Index (XSI®) Public Indices, stand as the second largest monthly rates rise on record, following a 28.1% jump in July this …
The post Container Rates Alert: “Astronomical” Monthly Hike Pushes Long-Term Ocean Freight Rates Up 121% Year-On-Year first appeared on