Container Rates Top $10,000 From Asia to Europe – gCaptain gcaptain.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gcaptain.com Daily Mail and Mail on Sunday newspapers.
By Brendan Murray (Bloomberg)
Ship congestion outside the busiest U.S. gateway for trade with Asia showed glimmers of easing as port officials race to clear a backlog of arriving cargo before peak season begins in about three months.
A total of 19 container ships were anchored waiting for entry into Los Angeles and Long Beach, California, as of Sunday, compared with 21 a week earlier, according to officials who monitor marine traffic in San Pedro Bay. The bottleneck has persisted since November, peaking around 40 vessels in early February.
Another 18 container carriers are scheduled to arrive over the next three days, with nine of those expected to drop anchor and join the queue.
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By Brendan Murray (Bloomberg) Ship congestion outside the busiest U.S. gateway for trade with Asia persisted over the past week amid a steady flow of imports at some of the highest ocean freight rates on record.
A total of 19 container ships were anchored waiting for entry into Los Angeles and Long Beach, California, as of Monday, compared with 22 a week earlier, according to officials who monitor marine traffic in San Pedro Bay.
Another 15 container carriers are scheduled to arrive over the next three days, with 11 of those expected to drop anchor and join the queue.
The average wait for berth space was 6.6 days, more than a day quicker than the delay in March, according to the L.A. port.
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By Brendan Murray (Bloomberg) Container shipping rates are heading higher again, driven to new heights by unrelenting consumer demand and company restocking from Europe to the U.S. that are exhausting the world economy’s capacity to move goods across oceans.
After peaking in late 2020 and not budging much through the first quarter, the rate for a 40-foot container to Los Angeles from Shanghai hit $4,403 last week, the highest in Drewry World Container Index data going back to 2011. Cargo shippers on less-traveled transatlantic routes are feeling the sting, too: Rotterdam to New York surged to a record $3,500.
By Brendan Murray (Bloomberg)
Los Angeles port officials see progress in reducing their bottleneck of cargo ships. Sail north to Oakland, though, and the line is even longer and there’s talk of the congestion lasting through the summer.
As of Friday, 25 container carriers were waiting to enter the Port of Oakland at anchor in San Francisco Bay and in a holding area offshore, up from 21 at the beginning of the week and little changed from a month earlier, a spokesman said. Outside the adjacent ports of Los Angeles and Long Beach, the queue was 21 ships long, also about the same as in mid-March.