World News
Asia-Europe Box Freight Rates May Hit $20,000/FFE: Sea-Intelligence
Container freight rates may jump to as high as $20,000/FFE on strong demand and diversions away from Suez, according to consultancy Sea-Intelligence.
The consultancy wrote a note to clients on Thursday examining the effect on rates caused by longer voyages around Africa.
If the same rate per nautical mile as applied during the peak of the COVID-19 disruption were reached now, the longer distances could lead to much higher shipping costs, according to the research.
"Here we arrive at the scary scenario for shippers," the firm said in the note.
"If the rate paid per nautical mile reaches the same level as during the pandemic, we will see spot rates of 18,900 USD/FFE from Shanghai to Rotterdam, 21,600 USD/FFE from Shanghai to Genoa, and 2,200 USD/FFE on the back-haul from Rotterdam to Shanghai."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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