Why Container Rates Are Soaring

A.P. Moller-Maersk A/S, the world’s largest container carrier, is working at full capacity, and can’t yet see a peak in freight rates that have already been propelled to record highs by pandemic consumer spending.

“All the ships that can sail are out at sea and all the containers that can hold cargo are in use,” Vincent Clerc, the head of the ocean transport division at Copenhagen-based Maersk, said.

While rates probably will peak at some point during the first half of the year, Maersk only has about four to six weeks of visibility, Clerc said. “It hinges on when the economies reopen and when consumer patterns return to their previous state.”

Expressing his views on the soaring rates, Captain Dinesh Gautama, Sr President, Sharp Logistics Pvt Ltd said 
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