Based on the recent Freight Calculator data by GoComet, it is clear that 20 ft shipping container prices have increased by 9.36% in the last 4 weeks. As of 4 July, the data depicted 20 ft container prices at $7671.83 which has now as of 1st August augmented to $8382.50. This increment has been exclusively from JNPT Nhava Sheva Mumbai to New York Port, USA.
Contributing factors to the shipping container price hike
It is fair to say that there are various factors affecting container shipping prices from one destination to another. One such factor could be an increase in port congestion at the departure or arrival port.
At the moment based, on the port congestion in USA data by GoComet, New york ports are experiencing an unprecedented delay of almost 7 days. The other contributing factors can be the Suez Canal Accident, major ports in China facing serious threats due to Covid, and inflation impacting the supply chain universally.