The cost of transporting containers from ports in Asia to Northern Europe and the US jumped this week after the collapse of South Korean Hanjin Shipping.
The collapse happened in the midst of the peak season and has resulted in a big cut in vessel capacity supply.
Container spot freight rates on the world’s busiest routes from Asia to Northern Europe jumped 36.6% to US$949 per TEU this week. Rates increased by 51% to the US West Coast and 45% to the US East Coast.
