Shipping rates out of control

https://gcaptain.com/shipper-fury-as-container-freight-rates-soar/?

Short-term freight rates from China to North Europe have breached the $20,000 per 40ft mark, while transpacific carriers are quoting rates of up to $25,000 to the US west coast.

And there was one report of $32,000 from Shanghai to Los Angeles being quoted this week,

The Loadstar has seen several quotes from the top five carriers of $21,000 per 40ft for July shipments from Chinese ports to Felixstowe and Southampton, with the average at around $18,000.

Although these massively elevated rates include a premium fee, to guarantee equipment and space, some shippers complain that their cargo is still getting rolled.

“We paid their ridiculous charges and thought that was the end of it,” said one forwarder, “but then we found out from our local agent that the boxes were still on the quay and the line wanted more to ship the cargo.

They will need to brace themselves for another round of FAK and GRI rate hikes on 1 July, with yet another hike likely from the middle of the month and a PSS [peak season surcharge] of several thousand dollars.