Ocean carriers are racking up massive profits from the unrelenting spiral of rate hikes and surcharges across virtually all liner services.
Today’s Shanghai Containerized Freight Index (SCFI) recorded a further 81-point gain across its tradelane components and a new record reading of 1,938.32, a colossal 150% higher than a year ago.
Spot rates to North Europe increased by 9%, to $1,644 per teu – 134% higher than 12 months ago.
However, shippers told The Loadstar this week carriers were quoting rates, via e-mail and digital platforms, some three times higher than these for Rotterdam and Antwerp, and “much more” for the UK.
The high rates also come with a raft of surcharges and fees that, according to some, is now making the shipments unsustainable. The Loadstar heard this week of two big orders from China to the UK that had been cancelled due to the contract needing to be renegotiated, while others have opted to hold shipments in warehouses until the market cools down.
Shippers are incensed that carriers are “taking advantage of their stranglehold on the supply chain” by loading on more fees and surcharges.
