STNG - Container Ship Operators Are On A Tear As Freight Rates Skyrocket
- We’re seeing a massive, synchronized explosion in global trade as economies reopen and fiscal stimulus measures ignite consumption.
- In 2020, container volume reached 9.2 million 20-foot equivalent units (TEUs), with total cargo handled valued at $259 billion.
- For the 12-month period through March 19, global container rates jumped nearly 195%, from an average of $1,377 per 40-foot container to $4,045.
- The cost to ship a single container from Shanghai to Rotterdam rose an astonishing 418%, according to Freight data.
- Dry bulk stocks were the best performers, up 50.4% year-to-date through March 19, among the sectors tracked by maritime research and consulting firm Drewry.
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Container Ship Operators Are On A Tear As Freight Rates Skyrocket