- The Shanghai Containerized Freight Index rose for an eighth straight week to 3,688 on Friday, the highest since July 2024.
- The cost of shipping containerized cargo from Shanghai to New York hit a four-year high.
- A shipping analyst warned that spot container rates at multiyear highs can flirt with pandemic-era records as the Iran war pushes up fuel costs and congestion at some of the world's busiest ports stretches capacity.
- The Shanghai composite gauge of export rates for several destinations including the US and Europe reached an all-time high of 5,110 in January 2022.
Quotes
“Spot container rates already at multiyear highs may flirt with pandemic-era records, a shipping analyst warned”
“The Shanghai Containerized Freight Index rose for an eighth straight week to 3,688 on Friday, the highest since July 2024.”