Container freight rates reach dizzying heights / Shipping companies benefiting handsomely from others' woes
Container freight rates are still spiralling upwards (Photo: PIE/Rebecca Lam)
The madness in container freight charges is moving on to the next round. In the week ending 5 June, prices for the worldwide transport of goods and commodities have reached new heights yet again. And what can the shippers and importers, who are already stretched to the limit, do about it? They can basically only resign themselves to the situation – virtually no genuine options are open to them for countering or slowing down the price spiral.

Plasteurope.com’s research shows that on the route from China to Northern Europe the average price of a 40-foot container has risen by 8.2% within the space of a week to stand at USD 10,550 (EUR 8,790). This marks, on the y2y-base, an enormous increase of more than 620% over the rate charged in 2020.

The route to Southern Europe has similarly been unable to escape this upward spiral, with prices continuing to soar, and a hike of 6.2% giving rise to a rate of USD 10,750 (EUR 8,960). Only those who are shipping consignments from Europe to the US East Coast can relax somewhat: the transatlantic container passage is available for USD 4,500 (EUR 3,750) –3.2% down on the previous week.

The situation remains unchanged – the shipping companies simply cannot master the shortage of empty containers. And perhaps they ultimately don’t have the necessary motivation. They are, after all, earning handsomely by not doing anything – to the detriment of their customers and the delight of their shareholders. At shareholder meetings, board members can revel in praise for exorbitant quarterly figures and massively increased dividend payments.
07.06.2021 Plasteurope.com [247764-0]
Published on 07.06.2021
Logistik: Schwindelerregende Höhe der Containerfrachtraten erreichtGerman version of this article...

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