Ocean Freight Rates Surge in First Half of 2024: Marsa Maroc Unfazed by 220% Increase

by time news

2024-07-09 07:54:01

During the first half of the year, ocean freight rates increased significantly. The shipping cost of a standard 40-foot container reached $5,318 for the week ending June 27, representing a 220% increase from the previous year. For comparison, as of December 21, 2023, the average price was about $1,661.

When we, the port operator, asked, Marsa Maroc explains to us that “the increase in the price of cargo has not affected the activity of containers in the first half of 2024 at this point”.

Far from being overwhelmed by this wave of inflation, Marsa Maroc therefore explains that the increase in freight prices had no impact on its container activity in the first six months of the year.

Remember that the company had reached a traffic of 687,181 Twenty Foot Equivalent Units (TEU) at the end of March, an increase of 22% compared to the same period of the previous year. The results for the second quarter at the end of June have not yet been published, but the trend is still positive, adds management.

It must be said that Marsa Maroc benefits from a low risk profile thanks to its diversification in terms of traffic and location. Currently in the domestic traffic and transhipment segment, the company has shown remarkable resilience against temporary economic crises.

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