How could the consensus — that container spot rates will remain extremely high — be wrong?
The Shanghai Containerized Freight Index hit a new record in the last week of December, up 76% year on year and topping 5,000 points for the first time. There were 101 container ships waiting for berths in Los Angeles/Long Beach on Sunday, very close to the peak. Trans-Pacific spot rates quoted for this month are higher than in December, which were higher than in November.
The heightened restrictions could result in production disruptions'
State media in China is insisting that volumes at the world’s largest port have not dropped, even as lockdown measures across the city of Ningbo increase.
Supply Chain Managers To Confront Escalating Transport Rates in 2022
Irrespective of mode, rates will be escalating, with carriers controlling capacity and exercising leverage like never before. Given the shortage of manpower and labor pools across the spectrum of global logistics, supply chain managers will be struggling.