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Container rates between US and China climb to record highs

China decided to summon container lines to a meeting in the same week that rates on key routes from China to the US climbed to record highs. Freight to Los Angeles has increased by 185 percent in a year, writes Jefferies.

The port in Los Angeles is one of the biggest in the world, where rates have increased by 185 percent in just a year, Jefferies writes. | Photo: Finn Frandsen/pxff82114.jpg

The price of shipping a container on the key trades from China to the US climbed to record highs last week, as it also emerged that the Chinese Ministry of Transport and Shanghai Shipping Exchange have, for that very reason, summoned the container lines to a meeting.

According to Jefferies, freight rates to send goods from China to Los Angeles have increased by 185 percent in one year, while routes to New York have increased 93 percent in a year.

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