Shipping Lines are at Capacity

Photo from the Wall Street Journal

The following information is taken from a JOC.com article published on October 1, 2020. Find the source material here.

Executives at three of the largest container lines say most, if not all, their available ships are on the water now, thanks to unexpectedly high demand from US shippers. Despite that, shippers still expect high spot rates, cargo rolls, and tight chassis supply to persist through the fourth quarter.

Containerized US import volumes from Asia rocketed 91 percent between March and August

Rates from China to the US West Coast for the week ended Sept. 30 rose slightly to $3,863 per FEU, up 190 percent from a year ago, according to the Shanghai Containerized Freight Index (SCFI), published in the JOC Shipping & Logistics Pricing Hub. Rates to the East Coast slid $3 to $4,622 per FEU, but are up 97 percent from the same time last year.

“Chassis shortages everywhere,” she said. “Trucking availability and rates are also a challenge."