AJOT Newsroom
| December 08, 2021
| Maritime | Liner Shipping
Key insights:
1 Ocean rates stayed level but still extremely elevated globally as port congestion remains a problem. Increases are likely as we get closer to Lunar New Year in February.
2 With only a couple weeks until the holidays, air cargo peak season is at its height. Demand is putting even more pressure on rates than usual as capacity is reduced by limited passenger travel – possibly to be made worse by omicron fears – ground handling shortages and tougher quarantine restrictions for pilots in places like Hong Kong.
3 Freightos data shows China-N. Europe rates have increased more than 30% since the start of November to $7.84/kg and China-US West Coast rates have climbed past their record high set during the PPE rush in May 2020.
