A series of reasons were behind the rate increases. These included an unlikely rise in consumer demand, a historic shortage of containers, port congestion, and a decreased number of ships and dock workers, and have all contributed to the worsening of the shipping crisis on almost all trade routes.

Why does ocean freight Increase 2021?

Ocean freight rates are driven up by the ongoing impacts of COVID-19 and the peak season in 2021. To see how the costs are going upward or downward, FBX Freightos is a reliable source for you to get updated with exact information about global freight costs and logistics news.

Why is sea freight increasing?

A combination of factors has led to the higher shipping costs, with soaring demand amid stimulus packages the key. Saturated ports and not enough ships, dockworkers and truckers has aggravated the situation. Easing of restrictions after the second Covid wave is another contributing factor.