As 2020 draws to a close, the world’s container-shipping network is bursting at the seams. The Shanghai Containerized Freight Index jumped again last week, to another all-time high. There’s market chatter of all-in Asia-West Coast rates (including premiums) of over $8,000 per forty-foot equivalent unit (FEU) and Asia-East Coast rates of $10,000 per FEU.
The Container xChange box-equipment availability index is down to its second-lowest point ever. And there are still around 20 container ships sitting at anchor in San Pedro Bay, waiting for berths in Los Angeles and Long Beach.