Container freight rates from Asia continued to surge this week, reaching highs far in excess of long-term sustainable levels.
Today’s Shanghai Containerized Freight Index (SCFI) cumulative reading hit a new record of 2,311.71, representing a 162% increase on the same week last year.
After initially lagging behind the massive rate gains seen on the transpacific, spot rates to North Europe now lead the rate race in terms of percentage increase, 230% higher …

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Source: The Loadstar