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Freight Rate Increase for December

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Freight rates from Asia to Europe suddenly jumped during the last week in December. This are expected to last longer than usual as carriers refuse cargo which has not been pre-booked.

The latest figures from the Shanghai Containerised Freight Index show that all-in spot prices from Shanghai to northern Europe increased to $1,586 per teu, an increase of $599 compared with the previous week — a 61% increase.

The increase in prices follows the mid-December general rate increase announced by shipping lines in November of $750-$800 per teu.
Freight forwarders who had hedged against freight rate increases had been able to secure December at between $1,000-$1,150 per teu, compared with the SCFI index level of $1,586 per teu.