Container rates set new record for 16th week in a row
Rates for container freight shipped from Shanghai to a number of key destinations around the world increase for the 16th consecutive week as the market continues to struggle with bottlenecks and long delays.
by DANIEL LOGAN
Spot rates for container freight continue to surge, with rates setting records non-stop for the past 16 weeks.
The rates have been registered as part of the Shanghai Containerized Freight Index (SCFI), which measures spot prices for container freight from Shanghai to select destinations around the world.
Since last week, the index increased by 1.0 percent to 4385.62.
Massive demand as well as global bottlenecks and a shortage of containers resulting from the Covid-19 pandemic have driven up freight rates for an extended period of time.
Over the past year, the SCFI has increased by more than 240 percent.
English Edit: Christoffer Østergaard
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