After a further surge last week, spot rates for containers from Asia to northern Europe are now 130 per cent higher than at the start of the year and 200 per cent higher than a year earlier, with the Far East-Europe trade route still under considerable pressure and further increases to come.
The current rush of imports from Asia appears to be continuing unabated during the peak season, with Los Angeles and Long Beach still in meltdown and as many as 20 ships lining up near the West Coast to unload at LA Long Beach.
Australian ports remain congested, with more than 75, 000 teU stranded in Sydney.
Intra-asian freight markets remained stable, but rates across Southeast Asia rose a staggering 390.5% from the same period last year.