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Container spot rates have continued their upward trajectory on the trunk east-west trades with double digit week-on-week gains on the Asia-Europe and Asia-North America routes. Drewry Shipping Consultants Ltd recorded 12% week-on-week increases on Shanghai-Rotterdam, Shanghai-Los Angeles and Shanghai-New York legs, which respectively finished the week at $4,172, $4,476 and $5,717 per 40ft. And it expects ex-China freight rates to rise due to increased demand, tight capacity, and the need to reposition empty containers.... Gavin van Marle rounds up this week's ocean freight rates as informed by Drewry, Xeneta, Hapag-Lloyd AG and CMA CGM. #freightrates #containershipping #oceanshipping #seafreight #oceanfreight #supplychain #logistics #hapaglloyd #xeneta #cmacgm https://lnkd.in/eihzd5B3

Interesting weeks ahead 🔮 Connect with our teams in #Canada for any guidance and support on your international trade 🚢 #DHLGlobalForwarding #OceanFreight #Solutions

Ocean freight container shipping spot rates are poised to surpass the levels experienced during the height of the Red Sea crisis as the latest round of increases takes effect on June 1, according to data released by Xeneta today. To Read More: https://lnkd.in/dSmnJ2bD #freight #shipping #logistics #oceanfreight #redsea #supplychain

TRADE ALERT- we have seen a lot of stories on the soaring ocean freight rates. I used FreightWaves SONAR to review ocean freight bookings and demand and yes we all know there is a disconnect since demand is not soaring yet prices are heading upward. I dive into the metrics of what's driving the costs. Container crunch is here. DHL Global Forwarding Goetz Alebrand was one of the early logistics companies warning about this in my reports. Data and outlook from Xeneta Emily Stausbøll and Judah Levine Freightos. #logistics #logisticsmanagement #containers #trade #peakshipping #redsea #containers #maritimenews #businessnews

Ocean freight rates are soaring by 30% due to a sudden container capacity crunch, triggered by bad weather, longer transits, and vessels skipping ports. With peak shipping season underway, Xeneta warns rates could climb further, impacting consumer prices significantly. This echoes pandemic-era supply chain chaos, pushing logistics managers to secure premium rates for space guarantees. Stay informed on these critical developments in global trade! 🚢📦 #GlobalTrade #SupplyChain #FreightRates #Logistics #ShippingIndustry #AFS

This weeks global supply chain figure & quote of the week: 📊 Figure of the week 9% Diversions by container ships around the Cape of Good Hope have led to a 9% drop in global capacity, according to figures from Drewry. The data suggests rerouting affects around 30% of global container ship capacity. And those diversions increase transit times by an average of 30% – leading to a 9% reduction in global capacity. 💬 Quote of the week “This represents a 38%-73% cost increase for directly affected cargo. We are seeing some costs being passed onto the consumer now from the smaller & medium businesses.” - Jon Gold, National Retail Federation VP of vice president of supply chain & customs policy, told a House subcommittee that some companies were seeing the prices of container freight double due to disruption in the Red Sea. 🌀 At OVRSEA, we've been anticipating this lack of capacity/spike in rates, providing our clients with the opportunity to strategize preemptively & mitigate losses. If you've fallen prey to these current market conditions, let's talk! #supplychainmanagement #oceanfreight #globallogistics

Some sayings are that the soaring ocean freight cost will continue till October. 😲😲😲 We can only arrange the orders and deliveries more efficiently, trying to lower the effects by more close communication with our partners. Anyway, it is harmful to the whole supply chain. #oceanfreight #container #shipping

Ocean Carriers are changing the dynamics of international shipping Is your company prepared to meet these challenges? I can help guide you through them

Recent Red Sea safety issues, and a prolonged drought in the Panama Canal, have redirected a high volume of containers to U.S. West Coast ports, opposed to the East Coast. Stifel analyst J. Bruce Chan shares with CNBC, “From a supply chain standpoint, efficiency standpoint, and ESG standpoint, West Coast transit makes sense. Logistics companies need to be nimble in managing the complexity of the changing supply chain so they can be stickier with the big shippers with various offerings and investments.” Click below to learn more: #shippingissues #trucking #logistics #redsea #panamacanal #shippingcontainers #supplychain

Ocean freight prices have surged in a matter of hours as more vessels divert from the Red Sea. Logistics managers were quoted a rate of $10K per 40-foot container from Shanghai to the U.K, up from last week's $2.4K. Truck rates in the Middle East are also more than double. #oceanfreight #logistics #shipping #supplychain #importers #exporters #disruption #inflation #liveyourwork #yourcargoconcierge