There are fears that the lack of empty containers, the disruptions caused by Red Sea pirates and rising transport demands could push up sea freight rates to the levels set during the COVID-19 pandemic.
Rates tend to increase rapidly and even change within a day, according to Pham Quoc Long, President of the Vietnam Ship Agents, Brokers and Maritime Services Providers Association.
Previously, shipping lines ususlly quoted container freight rates for a period of 15-30 days but now they only quote for a week.