look news india
New Delhi: Indian exporters are grappling with the impact of rising ocean freight rates due to the overnight sea crisis at major ports across the global supply chain. This crisis has led to skyrocketing container prices in the last few months.
Freight per 40-foot container rose two percent to $4,801 this week and was 202 percent higher than the same week last year, according to The Drewry World Container Index (WCI).
The average price of a 40-foot container was $1,420 in 2019 (before Corona), which has now increased by 238 percent to $4,801.
According to the index, the average (pre-Corona) rate for a 40-foot container was $1,420 in 2019, which increased by 238 per cent to $4,801 in the latest index.
Freight rates are expected to rise in the coming weeks due to China. This will be due to congestion at Asian ports. Globally, freight rates have increased by 202 percent compared to last year. Freight rates between China and Europe have increased by 358 percent year-on-year.
However, shipments between China and the US have increased by 250 percent. Logistics platform sources said that freight volumes in the maritime container shipping market have increased rapidly and dramatically in May and June. This is likely to boost futures trading.
