The ordering market for Containers is at historic highs. A total of 286 Containers were ordered in the first half of 2021. This is up an incredible 790% from H1 2020.
The rising shortage of containers and sky-high freight rates are threatening Indian exports that had risen to a record in the first quarter of FY22.
Long-term contracted ocean freight rates continued their ascent through June, although not with the dizzying trajectory witnessed in recent months. May’s 9% surge in prices eased back to a 2.3% gain in June.
Shippers could be forgiven for asking ‘when will it end?’ A year of historically high long-term contracted container rates is being pushed to new heights, with a further 9% surge in prices across the month of May.
Long-term contracted ocean freight rates are continuing their dizzying ascent, with a 4.1% climb in April leaving container shipping costs up 21.1% year-on-year, with a rise of 23.5% since December 2020.
Maersk Essen, a 13100 TEU container ship, lost about 750 containers in the Pacific on 16th January 2021.
Sweden’s largest ports attract significant growth while smaller ports experience declining volumes, and the trend is only accelerating, revealed recent figures from the Swedish Ports Association.
Capacity boosted between Asia and Europe to meet customer requirements amid unprecedented demand for shipping services.
BIC and DCSA announced the completion of their collaboration to standardize the codes used to identify facilities such as depots, container yards, M&R vendors, and other supply chain container facilities.