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Xeneta customers predict increase in freight rates after Shanghai reopening

Customers at analyst firm Xeneta forecast higher freight rates after Shanghai’s reopening. Other ports are having issues with large bottlenecks as well, states Kuehne + Nagel EVP.

Photo: Xu Congjun/AP/Ritzau Scanpix

The already high freight rates will increase further with the reopening of major Chinese city Shanghai.

Such is the prediction by the majority of customers surveyed by analyst firm Xeneta. 69% of customers expect that accumulation of goods will force rates upward as the crucial world trade hub fully opens up again after its Covid-related lockdown.

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