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FOLLOWING the Baltimore bridge collapse, supply chain professionals are bracing for price hikes, evident from a notable increase in sentiment favouring container price rises, reports Hellenic Shipping News Worldwide.
The expected surge in freight volumes into the US this year, combined with the bridge incident and ongoing challenges in the Red Sea and Panama Canal, is likely to strain key US ports in the short term.
This strain is anticipated to result in heightened congestion, added logistical and operational complexities, and price increases in the short to medium term.
The Container xChange’s Container Price Sentiment Index (xCPSI) unexpectedly jumped from 26 to 61 points between March 18 and March 29.
This significant increase indicates industry expectations of upcoming container price hikes, underscoring the growing uncertainty prevailing in the market.
‘The sharp rise in sentiment could be linked to ongoing market volatility, the perceived emergency on the US east coast due to the bridge collapse and sustained pressure on the market,’ said Container xChange CEO Christian Roeloffs.
# traders# see# disruption# from# baltimore# bridge# collapse
