Freight prices skyrocketed overnight! High price of tens of thousands of dollars! All sea, land and air routes have increased across the board!

Affected by the Red Sea crisis, the SCFI container freight index experienced a rare "four consecutive increases" after the epidemic. The increase in this period even exceeded the level during the epidemic. The four major ocean routes rose across the board. The European route can only be described as "surge", while the US route, which was already high, also rose compared with the previous week. Among all routes, the freight rate on the Asia-Europe route has experienced a particularly sharp increase, with a surge of 45.5% and nearly 50% compared with the previous period.

At the same time, freight rates from Asia to the Mediterranean also increased by more than 30% in a single week. Led by European lines, SCFI recorded its largest weekly gain since 2016.

People in the shipping industry pointed out that the current freight rate trend is even more violent than the surge in freight rates caused by the epidemic. This phenomenon highlights the profound impact of the Red Sea crisis on the global shipping market and the market's concerns about the imbalance between supply and demand of shipping capacity.

The latest Drewry World Containerized Freight Index (WCI) rose by 9%, and freight rates from Shanghai to Europe and the Mediterranean increased by double digits, rising by 16% and 15% respectively.

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