FourKites, the supply chain visibility platform, states that the shipment time to the European ports has increased by 25% compared to the data from February 17.
According to FourKites, as of March 2:
- The number of delayed LTL shipments increased – among LTL loads travelling into Eastern Europe the shipping delays increased by 20%.
- The dwell time increased across all the European ports – by 41% in Western Europe, 6% in Eastern Europe, 26% in Southern Europe and 17% in Northern Europe between February 17 and March 2.
- As of February 28, the volumes of Russian import dropped 28% from the previous week.
On March 4, the Shanghai Containerized Freight Index (SCFI) stood at 4,746.98, which is 71.49 less from the week before. The SCFI has been falling since the beginning of January.
According to Drewry, the World Container Index fell 2% to $9,279.46 per 40ft container in week 9. On March 3, the freight rate on the route from Shanghai to Rotterdam was $12,968, which is 5% less than a week before.