A Record High: Freight Rates for Asia-Europe Routes Exceeded US$10,000

: 2021-05-31

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On May 27th, the shipping container freight rate from Asia to Europe exceeded US$10,000 for the first time, setting a new historical record.

The World Container Index released on May 27th by Drewry shows that the shipping price of a 40-foot container from Shanghai to Rotterdam has soared by 485% compared to a year ago. The composite index of the eight major shipping routes is up 2% from the previous week to US$6,257, with an annual growth rate of 293%. Drewry said this is the highest level since 2011.

It is reported that many container consignors in the United States and other regions this year have to pay more than 10,000 US dollars in freight after adding various expensive surcharges such as guaranteed delivery on time and guaranteed shipment for each container.

The share price of Maersk, the world's largest container shipping company, hit a record high earlier this week. The Israeli shipping company ZIM Integrated Shipping Services went public at the end of January this year. Its share price has soared this month and has tripled from its listing of $15 per share.

Not only the Asian routes, but also the comprehensive freight rates for tracking eight major routes also hit a new high. Drewry's statistics on the eight major airlines' composite index reported US$6,257, up 2% from the previous week and up 293% from the same period last year.

News of International Logistics & Shipping Industry

A Record High: Freight Rates for Asia-Europe Routes Exceeded US$10,000

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