Asia to US Containers rates at record highs

Strong demand to ship goods such as personal protective equipment and home office equipment from North Asia to the US seen, amid concerns over possible increased lockdown measures in the later part of the year.

US shippers also seek to fill warehouses ahead of China’s Golden Week holidays and potential Q4 coronavirus lockdowns.

Carriers have un-blanked sailings to boost supply, and employed sweeper vessels to pick up cargoes, but supply is still not keeping up with demand.

Earlier, blanked or cancelled sailings played a large role in managing container space supply, and kept container rates relatively steady despite decreased global trade.

Logistical issues remain over the number of available boxes in North Asia in which to ship goods as delays returning containers from inland continue.

Source: S&P Global Platts