Reported 12 months ago
In the midst of the booming third quarter shipping season, freight rates on the US East Coast have surged by about $2,000 per 40-foot container as of July 1st, becoming the first route to surpass $10,000 post-pandemic. Yang Ming, along with other carriers, has notified freight forwarders of a $2,000 GRI (General Rate Increase) on Far East to North America routes starting August 1st, reflecting optimism in the shipping market for Q3. The expectation of sustained high freight rates and increased shipping volumes driven by various factors like the Red Sea crisis, recovering European and American economies, and precautionary stockpiling due to tariff-related uncertainties, is causing excitement in the industry.
Source: YAHOO