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BIMCO s Shipping Number of the Week: From ugly duckling to swan: Europe-bound container spot rates exceed USD 6,000

BIMCO s Shipping Number of the Week: From ugly duckling to swan: Europe-bound container spot rates exceed USD 6,000
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BIMCO Number Of The Week: Europe-Bound Container Spot

Source: BIMCO As spot container freight rates entered December, they also entered record-braking territory, climbing from $3,076 per FEU on the last day of November to $4,858 per FEU on first day of December. This was a milestone in its own way. Since then, all stars aligned for a continued climb that has seen spot rates break through the $6,000 per FEU mark on 15 December, now quoted at $6,102 per FEU (on December 16, 2020). (source: Xeneta). Massive BREXIT frontloading imports and so much more The massive stop-and-go trade in containerized goods throughout the year has caused significant challenges for logistics providers, including the global liner industry. At the start of the year, the COVID-19 pandemic stalled Asian exports, followed by shut-downs throughout Europe and the U.S. as the pandemic spread. The situation could not get much worse as demand for goods evaporated instantly.

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