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Shippers Compete for Space as Container Freight Rates Continue Rise – gCaptain

By Mike Wackett (The Loadstar) – Shippers from Asia to Europe saw a further spike in container spot rates this week, particularly for Mediterranean ports. And ocean carriers are said to be preparing big increases in short-term rates as cargo-rolling becomes the norm. On the transpacific, carriers are ‘sold out’ for the rest of May and into June, with this week’s spot rate increases from Asia to the US west and east coasts described by one shipper as “academic”. The North Europe component of the Freightos Baltic Index (FBX) increased by 5% this week, to $8,127 per 40ft, which represents a remarkable 475% increase on the same week of last year.

shipping: Logjam deepens at the world s ports as pandemic strikes shipping

Synopsis The situation arose last year as the expanding pandemic jammed the sprawling, predictable patterns by which shipping containers are shared around the world s ports. iStock The longer-term impact on trade and consumers remains difficult to forecast as no one knows for sure when the situation will ease, or if it might worsen. Towering cranes work overtime swinging containers from cargo vessels in the eastern Chinese port of Lianyungang, racing to keep ahead of a perfect storm unleashed by the pandemic that has created gridlock in global shipping. As the huge containers were flung onto trucks with a thunderous clang, Shi Jiangang, a top official with Chinese shipping company Bondex Logistics, reflected on the backlog.

Logjam deepens at the world s ports as pandemic strikes shipping

Logjam deepens at the world s ports as pandemic strikes shipping
dailytimes.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytimes.com.pk Daily Mail and Mail on Sunday newspapers.

Logjam deepens at world s ports as pandemic strikes shipping | Hellenic Shipping News Worldwide

Logjam deepens at world s ports as pandemic strikes shipping | Hellenic Shipping News Worldwide
hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.

Logjam deepens at the world s ports as pandemic strikes shipping | Money

Sunday, 04 Apr 2021 01:30 PM MYT Containers are seen at a port in Lianyungang, Jiangsu province, China, June 10, 2019. Reuters pic Subscribe to our Telegram channel for the latest updates on news you need to know. LIANYUNGANG, April 4 Towering cranes work overtime swinging containers from cargo vessels in the eastern Chinese port of Lianyungang, racing to keep ahead of a perfect storm unleashed by the pandemic that has created gridlock in global shipping. As the huge containers were flung onto trucks with a thunderous clang, Shi Jiangang, a top official with Chinese shipping company Bondex Logistics, reflected on the backlog. “It’s been a very great challenge,” he said.

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