Reported 8 months ago
As of June 21, 2024, freight forwarders revealed that the cabin capacity on Europe and America routes is full until July. Carriers have raised rates by about $1,000 in mid-June, but the actual impact remains to be seen. The Shanghai Containerized Freight Index (SCFI) rose by 2.85% to 3,475.6 points, marking an 11-week consecutive increase. While prices are high, the rate hikes on major Europe and America routes have been narrowing. The Mediterranean route increased by 0.14%, while the Europe and America routes increased by 3.55% to 3.87%. With global capacity reaching a historic high of 30,044,051 TEU, the market is closely monitoring the price trends amidst the surge in capacity and rates. Factors such as port strikes and increased demand are contributing to the upward trend in rates on the Europe and America routes.
Source: YAHOO