International Freight Rates Keep Rising

Since the beginning of international shipping in the second half of last year, ocean freight has beenrising. Shipping giant Maersk once predicted that the shortage of capacity and the peak season of the industry, supported by high demand, the high freight rate may continue into the third quarter of this year.

At present, there is a backlog of seaborne cargo, ship delays, and shortage of containers and space. Shipping companies from across the Pacific Ocean to the West Coast of the United States have quoted as high as US$25,000; quotes from Shanghai to Los Angeles amount to US$32,000!

The sea freight rates are revised upwards by all carriers and the validity is reduced, a sign that the market is still tight and uncertain.The situation remains tense in the maritime transport market.