High Freight Rates the ‘New Norm’ in Global Ocean Transport – Sourcing Journal

The container freight supply and demand relationship has reached a long stretch of stormy seas. The Freightos Baltic Global Container Index climbed 38 percent in December to a new high of $3,377 per 40-foot container or equivalent unit (FEU), a 143 percent increase annually, driven by still-surging global demand and the resulting container shortage that…