The Shanghai Containerized Freight Index jumped 12.6 per cent last week to 3,044.77, breaking the 3,000-level for the first time since August 2022
The cost of shipping a 20-foot container from Shanghai to Europe is over US$7,000, an increase of about US$1,000 from a month ago, shipping executive says
Ocean freight rates from China are once again surging as exporters front-load shipments for the holiday season battered by worries about US tariff increases and prolonged Red Sea disruptions.
The Shanghai Containerized Freight Index, a gauge of container shipping rates compiled by the Shanghai Shipping Exchange, climbed 12.6 per cent to 3,044.77 last week. It was the first time since August 2022 that the indicator, which is published on a weekly basis, broke through the 3,000-point level.
