Good day shippers,
As we move into the new year, we wanted to give you a look into the current condition of the global shipping industry.
The industry has experienced dramatic disruptions to global supply chains as well as high demand for vessels and containers.
This demand has out-stripped supply, which has in turn led to record levels for container freight and vessel charter rates.
The cost to ship 1 x 40ft container from Shanghai to Los Angeles is over USD$10,500, more than double what it was at the start of 2021. Whilst vessel charter rates have increased 174% since December 2020.
In Fremantle, we have been experienced ongoing disruptions caused by industrial action and heavy congestion both at the Port and waiting for a berth.
Hopefully, 2022 will see stabilisation in the industry however there is a long way to go before the industry recovers back to pre-Covid levels.
Articles you may not have come across from 2021: