Is the upcoming Chinese New Year an accomplice? Yes, but that’s not all
In an international shipping context already compromised due to severe congestion, delays, equipment shortages, “the upcoming Chinese New Year in February, and the rush to ship goods before holidays, is the reason why, according to Freightos, in the last few days the transport demand and sea freight rates have skyrocketed.
The Shanghai Containerized Freight Index as of December 31, 2020 showed a +266% increase in sea routes between Asia and the Mediterranean, the absolute highest value: $ 4286 per teu.
According to the World Container Index, on the other hand, the Shanghai – Genoa spot freight for each 40-foot container (Feu) has now reached an average of $ 8,380, up by $ 1,282 (+ 18%) compared to last week. If compared with the beginning of 2020, however, the jump is + 212%.
The costs have increased so much that in some cases the sea freight exceeds the value of the goods.
The difficulties currently experienced by the world of logistics and containerized shipping inevitably affect the exporting and importing companies that today have to deal with skyrocketing prices and continuous disruptions in supply chains.
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