The biggest increases were seen on routes from China to U.S. East Coast ports, where the cost of shipping a 40-foot container has increased more than 1.5-fold, approaching $6,000. While that’s still less than half of the pandemic-era records of 2021, the rates are three times higher than normal pre-crisis levels.
On routes to US West Coast ports, rates rose 38% over the week, reaching around $7,200 per FEU container.
Prices have also increased on routes to Europe
Routes from Asia to Europe are also recording rapid growth, exceeding 30%. The greatest dynamics are shown by connections to Mediterranean ports , where rates have increased by 38%. A slower, although still significant increase – 32% – concerns the direction to Northern European hubs, which is explained by congestion and delays in the largest ports in the region.
Photo: WCI
Congestion in European ports deepens crisis
Congestion at European ports continues, forcing operators to cancel calls and reroute vessels to alternative ports. At least 11 container ships were waiting in the roadstead near Rotterdam on Tuesday, according to Lloyd’s List. There were four ships in the queue in Antwerp and six in Hamburg. Changes to sailing schedules due to the restructuring of alliance systems, problems with barge transport due to low water levels and a wave of strikes have all contributed to the disruption.
Despite the current growth, Drewry predicts a drop in demand and sharp rate cuts in the second half of the year. Future market dynamics, however, could be affected by decisions by U.S. courts on new import tariffs and port fees for Chinese ships.
