Shipping: Carriers Bullish On Freight Rates

From The Loadstar:

Peak flavor sees freight rates to a greater extent than buoyant in addition to carriers bullish on cost hikes

Container freight rates on the major east-west deepsea trades are showtime to elevator equally the elevation flavor begins in addition to cost hikes scheduled for adjacent week make their presence felt inward the market.

Today’s Shanghai Containerised Freight Index (SCFI), a handbasket of rates quoted for the forthcoming week, saw its composite charge per unit of measurement today upward 8.8% calendar week on week, amongst increases seen on well-nigh every merchandise it tracks.

The charge per unit of measurement on the Shanghai-North Europe grew 7.3% this calendar week to complete at $926 per teu, compared with $863 per teu end week, equally the merchandise edges towards the psychologically telephone commutation $1,000 per teu point.
Meanwhile, the Shanghai-Mediterranean component showed the weakest growth, 2.8%, to complete the calendar week at $893 per teu.

The transpacific trades to both the eastward in addition to westward coasts of North America saw a continuation of several weeks of potent cost growth: into the U.S. westward coast upward 16.4% to $1,877 per feu; and the Shanghai-US eastward coast merchandise upward 7.4% to $2,846 per feu....MORE