Persistent supply-chain bottlenecks are driving up rates and the shipping sector sees
no relief on the horizon before 2022
Prices to ship containers from Asia to the U.S. and Europe are rising at a historic pace
as cargo owners bid up rates in a search for ocean transportation capacity that shipping
industry executives expect to remain tight for the rest of the year.
The average price world-wide to ship a 40-foot container has more than quadrupled
from a year ago, to USD 8,399 as of July 1, according to a global pricing index by
London-based Drewry Shipping Consultants Ltd. The measure has surged 53.5 % since
the first week of May.
Listed prices to ship from China to major ports in Europe and the U.S. West Coast are
closer to USD 12,000 a container, by Drewry’s measure, and some companies say they
are being charged USD 20,000 for last-minute agreements to get goods onto outbound
vessels.
Write to Paul Page at "paul.page@wsj.com"