Highest and Fastest Freight Rate Markups Ever
90% Freight Rate Increase in One Year
Freight rates have skyrocketed throughout the Covid-19 pandemic and by data reports, it looks like they’re not coming down any time soon.
Due to the ongoing global pandemic which has caused worldwide delays, port congestion and ship backlogs resulting in companies chartering their own ships, some shipping lines have been able to increase their financials due to the increased rates ten-fold.
Most recently, Xeneta Shipping Index (XSI) has reported the numbers for the past few months to indicate just how severely this issue has become.
In July, global container prices increased an incredibly 28.1%, in August a 2.2% increase, and in September a 3.2% increase which makes it an astounding 91.5% surge from the past year.
