Shipping Crisis Update

In our previous update, we spoke about how the port congestion and delayed shipments continue to be a problem. While December shipment numbers were predicted to be on the lower end, the latest report from Drewry´s World Container Index have shown a 2.3% increase in spot rates this week.

Freight rates continue to be 170% higher, with most of the world's major routes still facing congestion. It has been reported that only Rotterdam to Shanghai saw a 2% drop while the others increased. Shanghai to Los Angeles, Shanghai to New York, and Shanghai to Genoa saw an increase in spot rates by 5%, 4%, and 3%, respectively.

Furthermore, freight prices from Rotterdam to New York saw a slight increase of 1% compared to last week. We will keep you posted as the situation progresses.