The container shipping rates from Asia to the U.S. andEurope have skyrocketed at a historis pace bis year.Mainly due to supply chain blockages and container shortages across the world caused by the covid-19.

The average price to ship a standard 40-foot container hasrisen more than five-fold from the same period last year. Maersk , the worlds largest shipping company , CMA CGM ,the third-largest , and Hapag-lloyd , the fifth-largest,announced decision to freeze freight all kinds rate ( FAK ).

However , the freeze may not be enough in the currentspot market , according to S & P Global. like premium , portcongestion and peak season feesCover and above the FAK rates.