Steel warehouse and prefabricated house manufacturer

Sea freight rates continue to rise

  • 2021-05-13

The container market has seen an unprecedented increase in rates since the end of 2020. A shortage of shipping containers and essential equipment at Chinese ports, exacerbated by fluctuating international trading environments in the Covid pandemic, has meant inflation in international shipping rates.

Global freight rates will remain high in the short term, but will moderate in the longer term once shipping supply-chain disruptions are clecared and more new ships are deployed. Global container shipping companies are benefiting from high freight rates, which will help strengthen their balance sheets and offset the impact from increased investments in new vessels on financial metrics. Demand for container shipping is high due to the mismatch between increased pandemic-induced trade and operational disruptions to the shipping supply chain, such as container box shortages and port congestions.

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