Container rates climb to unprecedented highs

2021 is shaping up to be a golden age for container ship operators, with January’s substantial rise in long-term contracted rates being “blown out the water” by developments in February. According to the latest XSI Public Indices report from Xeneta, which crowd sources shipping data to deliver unique market intelligence, rates soared by 9.6% month-on-month (following January’s jump of 5.9%). All key shipping corridors registered steep climbs, driven by continuing surging demand, lack of equipment supply, and spot rates that refuse to budge from their lofty peaks. Source: Xeneta