Freight rates soar to record levels

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Freight rates soar to record levels

We are now receiving notifications from our partners, that lines are proposing drastic increases to rates for the final week of 2020. They are offering rates in the region of USD 7500/15000/15000.

Whilst we are not offering to our customers based on this service, or advocating using, it shows the current state of the market and situation we are seeing.

Within the last 3 months, we have seen rates go from around USD 800/1600/1600, to nearly 10 times that level, whilst the service from the lines has drastically fallen, with regular rolled containers, containers left for long periods at continental ports, a lack of equipment availability at origins, and problems with high levels of empties at UK ports.

Unfortunately we do not see this changing in the short or medium term, but hope it will begin to ease at Chinese New Year.

Regardless of the above, we do still have some space on services with more reasonable rates, please contact us if you have cargo which cannot wait.

Valid from

16/12/2020

Valid until

31/12/2020

Affected party

Most importers who must still ship cargo

Cost implications

High

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