Yantian congestion pushes box spot rates to new highs, ceiling still not in sight

June 04, 2021

Hobbled by growing congestion at Chinese export gateway Yantian and key receiving terminals such as Oakland and Hamburg, the Shanghai Containerized Freight Index shot up by another 3.3% today to hit new records. The box spot index operated by the Shanghai Shipping Exchange climbed 117 points to close the week on 3,613 points, up 157% year-on-year.

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