World Container Shipping Rates Keep Rising Amid Port Congestion
- Rates on key Asia routes topped $6,000 per 40-foot container
- Red Sea attacks, early peak season demand pressure spot rates
Singapore’s maritime gateway, among the world’s most vital crossroads for seaborne freight, is facing a sustained period of congestion.
Photographer: Aparna Nori/BloombergThis article is for subscribers only.
Inflation looks to be easing across the developed world, except for one glaring pocket of hot prices: cargo costs on the high seas.
Spot rates for full-size shipping containers to the US and Europe from Asia rose again in the most recent data, with three key routes all topping $6,000 for a 40-foot equivalent unit, according to the Drewry World Container Index, released on Thursday. They’ve all tripled since the end of 2023, though the pace of increases is moderating.