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Asia-to-Europe container rates hit fresh all-time highs on delays Container rates from Asia to Europe have hit fresh all-time highs as logistical issues continue to constrain the market and demand remains firm through to July, limiting availability on ships. Platts Container Rate 1 – North Asia-to-North Continent – rose to $12,000/FEU on May 17, up $1,500/FEU from the week earlier. This increase reflected a near ten-fold increase from the $1,300/FEU assessed on this route a year earlier. The latest jump in rates comes as demand continues to outweigh supply on key routes around the world. ...

Ports of Los Angeles, Oakland set April container volume records The ports of Los Angeles and Oakland both had their busiest April ever for container throughput as the US West Coast remained inundated by imports from Asia, the ports said May 13. The Port of Los Angeles was making progress in reducing the queue of ships at anchor in San Pedro Bay, handling 946,966 twenty-foot equivalent units (TEUs) in April, up by 37.2% year on year and its fourth highest ever monthly volume. Total throughput at the Port of Oakland in April increased by 8% year on year to 217,993 TEUs as it attracted more imp...

Container liner Hapag-Lloyd expects 2021 growth to continue on firm demand German container liner Hapag-Lloyd is expecting 2021 year-on-year growth to far outperform the levels seen in 2020 as demand continues in the container market around the world. With strong cargo volumes dominating the market until this point in 2021, this is expected to continue well into the middle of the year, although the company expects there to be a “gradual normalisation of the development in the second half of the year,” it said in its Q1 earnings report on May 12. Firm demand from the key exporting region o...

Port of New York sets new monthly record for container volume in March The Port of New York and New Jersey posted its highest-ever monthly container volume in March as imports surged while also drawing cargoes away from congested US West Coast ports, the Port Authority said May 5. Total throughput was 789,776 twenty-foot equivalent units in March, beating the previous monthly record from October 2020 by 34,339 TEUs. The March total was a 40.8% increase from the same month last year when the coronavirus outbreak largely brought global trade to a halt, underlining the staggering reversal in dem...

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Total throughput was 789,776 twenty-foot equivalent units in March, beating the previous monthly record from October 2020 by 34,339 TEUs. The March total was a 40.8% increase from the same month last year when the coronavirus outbreak largely brought global trade to a halt, underlining the staggering reversal in demand for space on containerships over the past year. It was also worrying sign that US East Coast ports could face the same port congestion issues that have diverted ca...