Experts from the Port Authority of Valencia predict freight rates will continue to rise globally due to several factors, such as the container shortage and the economic pull of the US. In particular, the high demand for maritime transport in combination with the lack of empty containers, the shortage of capacity and equipment, the price of fuels, the problems of co-determination, the traffic increase and the congestion in several ports of the world, are the main factors for this continued increase in the freight rates.
In all, the Valencia Containerised Freight Index for July has grown by 9.19%, making it the first year of growth in export freight from Valenciaport. VCFI for July stands at 3.427,43 points representing a spike of 242.74% since the beginning of the historical series in January 2018.
Source: container-news.com
