Box rates up double digits on strong demand and fuel surcharges
- Asia-US west coast rates rose 10% week on week to highest level since last June, and Asia-US east coast rates rose 11% to highest level since last July, according to SCFI
- SCFI assessment for Asia-North Europe increased 14% w/w, with the Asia-Mediterranean assessment surging by 28%
- Carriers are seeking to recoup much higher fuel costs; VLSFO pricing is up 69% vs a year ago, with HSFO pricing up 61%
Container lines need higher freight rates to cover massive fuel bills stemming from the Hormuz crisis. The lines are having some success — spot rates rose sharply this week
