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Ready to ride the recovery wave – S&P Global Platts Container Update, June 2020

China 2435 Corp - Forwarders 231 Corp - Shipping 753 European Union 590 Mode - Containerized 1193 Mode - Seaborne 1518 Theme - Rates 166 U.S. 4297 United Kingdom 262

Container shipping rates surged in June with a 56.7% jump in Asia-to-U.S. West coast routes and a 23.% increase in east-coast U.S. bound rates compared to the end of May. That’s been driven by restricted capacity, recovering demand after COVID-19 and an increase in bunker fuel costs. One freight forwarder has noted “we may well see a peak season surcharge after all” while another stated that higher demand “has left us no choice but to put some vessels back in service and to increase carrying capacity – how long can we manage to ride the wave?” Hapag-Lloyd and UPS have both removed tempor...

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