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Contracting for shipping, shipping not contracting – S&P Global Platts container update, March 2021

Corp - Shipping 895 Energy - Bunker Fuel 88 Global 1299 Mode - Containerized 1371 Mode - Seaborne 1708 Theme - Rates 211

The global container freight market continued to face imbalances in March after an unseasonal demand cycle which saw container throughput at Chinese ports climb 37.9% year over year in February and U.S. seaborne imports per day increase 13.0% higher than the prior three months’ average in March. The late-in-month blockage of the Suez Canal will continue to cause imbalances into April. The annual container shipping contract round has seen more activity than usual, with 12-month forward contracts being signed at $2,500 to $3,000 per forty-foot equivalent unit (FEU) on Transpacific routes. ...

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