Container Rates

Trans-Pacific Spot Rate Records New High With Surge In US Import

  • Ocean freight prices have reached a new high, with a huge surge in import demand.
  • However, experts believe this may not be a permanent situation due to the existing economic issues from the pandemic. Hence, they foresee another dip for container-shipping volumes.
  • Asia-West Coast spot rates at $3,758 per FEU, while Asia-East Coast spot rate was $4,538 per FEU.
  • Shanghai-California came in at 65 cents per nautical mile, making it three times higher than any other route in the trans-pacific region.

https://mfame.guru/trans-pacific-spot-rate-records-new-high-with-surge-in-us-import/

Shippers’ ocean freight budgets ‘about to explode’ as rates hit new highs

Ocean freight budgets for shipments from Asia to the US and Europe are going through the roof as carriers prepare yet another round of freight rate increases.
Today’s Shanghai Containerized Freight Index (SCFI) recorded further gains for the transpacific and Asia-Europe tradelanes, taking its combined reading up another 7% for the week, to 1,263.26, which is 54% higher than a year ago.
Container spot rates from Asia to the US east coast, …

The post Shippers’ ocean freight budgets ‘about to...

https://theloadstar.com/shippers-ocean-freight-budgets-about-to-explode-as-rates-hit-new-highs/

Hawaii’s Young Brothers seeks rate increase to stay afloat

Young Brothers said it needs to dramatically increase its shipping rates this summer if it is going to break even financially and keep its services operating through year’s end.

Hawaii’s sole inter-island ocean carrier, which is regulated by the state’s Public Utilities Commission (PUC), said the coronavirus pandemic is already expected to leave it with a loss of $30 million by the end of 2020 at current rate levels.

Even before the state implemented its COVID-19 travel restrictions earlier this...

https://s29755.pcdn.co/news/hawaiis-young-brothers-seeks-rate-increase-to-stay-afloat

Shipowners Optimistic of Smooth Sailing As Container Rates Spike

According to a Loadstar report, owners of mid- to small-sized container vessels remain optimistic, despite the impact of trade wars and forecasts of a global deceleration in box volumes,

Shipowners Confident

With an almost empty orderbook in the smaller containership sectors, owners are confident they can continue to achieve daily hire rate increases for extensions or new charters.

Speaking to Bloomberg radio today, Global Ship Lease (GSL) chief executive Ian Webber said that although trade wars...

http://mfame.guru/shipowners-optimistic-of-smooth-sailing-as-container-rates-spike/

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