The new ERAI report touches upon the results of Rail Container Transportation in Eurasia in the First Half of 2021.
Drewry’s composite World Container index increased 1.7% or $170 to $9,987.27 per 40ft container.
Decision to restart operations at the Covid-disrupted Chinese container terminal comes as congestion off Ningbo and nearby Shanghai appears to be improving, with fewer vessels queueing in the anchorage.
Drewry expects rates to increase further in the coming week, as continuing global container shipping disruptions continue to drive up prices.
Delays to freight shipments via China’s largest cargo airport are mounting due to the Covid-related closure of one of PVG’s main cargo terminals, reduced handling and customs capacity, and flight cancellations.
With overland transport infrastructure increasingly enhanced and accessible, new artery will effectively link up numerous inland countries and cities and release unrivalled economic and trade potential.
Ex-Shanghai spot prices climb to their highest point since May 2020 when the industry was under extreme pressure due to the rush on PPE.
Annual autumn and winter surge has begun already, freight sources report, due to a combination of factors including manufacturing production delays, ocean freight turmoil, and Covid-related air capacity reductions.
Constrained capacity and elevated prices continue to be the dominant features of the air cargo charter market with leading brokers predicting an extremely challenging peak season as strong demand rises even further.
Average air freight rates remained firm in July during what is usually the sector’s ‘slack season’, as airlines’ management of capacity in response to a slight softening in demand bringing average spot rates back up.
July saw the container shipping industry «enter uncharted water», as long-term contracted rates surged by their largest ever monthly increase — «climbing by close to one third».