Demand for container freight looks set to remain at very high levels throughout the Lunar New Year, with freight rates from North Asia to the UK at all-time highs as volumes continue to rise. Importers have been seeking to refill depleted warehouses and ongoing equipment shortages continue to dog the market, leaving rates soaring. Platts Container Rate 11 – North Asia-to-UK – hit new highs at the start of the year at $10,000/FEU, for from $3,000/FEU on Nov. 30, highlighting the strong demand and ongoing logistics issues. These rates have held firm since then, assessed flat through to Jan. 19. Underpinning this recent and expected continued upside is the increased Chinese production and exports – an ongoing […]