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According to data from the Baltic Exchange, at the end of 2020, freight rates on the busiest routes from China to the West Coast and East Coast of the United States were 208% and 110% higher than in 2019 respectively. Container freight rates from Asia to Europe have also seen an unexpected surge. In December alone, freight rates from China to Northern Europe increased by more than 60%, and freight rates to Rotterdam even increased by nearly six times throughout the year.
Regarding the shortage of containers, according to a survey on China's shipping business climate, over 90% of container companies indicated that the shortage of containers will continue for 3 months or more. Therefore, the shortage of containers still exists in the short term.
In addition, the eight major trans-Pacific eastbound container shipping companies have updated their respective tariffs reported in FMC. Starting from February 1, 2021, GRI has increased by about US$1,000. Shipping companies include CMA CGM, COSCO, Evergreen, and Hapag Lloyd. , HMM, Ocean Network Express (ONE), Yang Ming, ZIM, etc.