Container Freight Rates Spike to New Extremes, up 500% for Asia-US, Asia-EU since Early 2020. Worse Still Ahead | Wolf Street

“We have heard reports of $15,000 from China to the West Coast and are aware that carriers are charging additional premiums on top to prioritize the loading of a late booking ahead of normal FAK [Freight All Kinds] rate cargoes,” Drewry says.

Rates from Shanghai to Rotterdam have skyrocketed from below $2,000 in early 2020, and from a five-year average of $2,486, to over $12,000 in July (yellow line).

With the approaching peak season on the Asian routes, Drewry said that it expects “spot rates and underlying capacity shortages to become even more acute,” and it expects rates “to get close to $20,000 on some lanes.”

Container Freight Rates Spike to New Extremes, up 500% for Asia-US, Asia-EU since Early 2020. Worse Still Ahead | Wolf Street