Global Mobility News Report – Container Freight Rates Continue to SoarDecember 11, 2020
Container freight rates continue to soar with no end in sight. Record demand for containers, lack of equipment, severe port congestion in the UK, and COVID-related factors are driving the higher prices.
Consequently, ocean freight bookings from APAC and Middle Eastern Regions to the US and the UK are extremely difficult to obtain and pricing is unable to be fixed. Moreover, pricing is expected to shift upwards in the coming days/weeks/months with no material change on the supply and demand side in the foreseeable future.
Your global Arpin service team is working closely with our supplier partners and clients to monitor the situation and we will be contacting all assignees impacted to set up individualized contingency plans. In the meantime, please don’t hesitate to contact an Arpin representative for additional advice and guidance.