Freight rates in Europe and the United States are going to rise again! Many shipping companies have issued price increase notices

With the end of the Dragon Boat Festival holiday, many shipping companies have also started a new round of price increases! Before the previous wave of price increases has subsided, a new wave of price increases has come one after another.

Many shipping companies raised freight rates

Shippers and freight forwarders should pay attention again! It is reported that Hapag-Lloyd, COSCO Shipping, MSC, Kambara Kisen and other shipping companies have announced a new round of fee increases starting from mid-June.

See below for specific notice:

Hapag-Lloyd announced that it would significantly increase freight rates from Asia to North America by USD2400/20' and USD3000/40' starting from June 15. COSCO Shipping said that the latest price increase in Europe and the Mediterranean is USD800/1600 .

According to the latest notice from MSC, starting from July 1, Mediterranean Shipping will impose GRI on all goods exported to the United States and Canada, with specific increases of USD2400/20', USD3000/40', and USD3798/45' . The highest single price increase is USD3798, setting a record for the highest single price increase in shipping history!

Not to be outdone, Kamhara Kisen announced that due to the impact of the epidemic, shipping companies' operating costs have risen. Kamhara Kisen will increase all prepaid ocean freight rates from Ningbo to Japan's remote ports from July 1, 2021, with an increase of $100/20GP; $200/40GP&HC (other surcharge rates remain unchanged).

Containers stay longer at ports

As of last week, the average detention time at ports and terminals in South China had extended to 18 to 21 days .

Although the West Port of Yantian has resumed operations and export business is gradually recovering, many industry insiders also said: "The terminal is expected to increase operations to 60% in the next two weeks, so Yantian will be able to recover at least around the end of June." However, as far as the current situation is concerned, the density of the Yantian port yard is still very high and the truck congestion problem still exists.

"There were more than 50 container ships waiting to dock in the Outer Pearl River Delta, where the port is located, on Friday, according to Refinitiv data cited by Reuters . So even if the crisis is resolved, we will see an impact from the surge in cargo. There could be congestion at destination ports with delays of about 2 to 5 weeks due to increased detention times ."

As the transportation time is extended due to congestion and delays, the freight rates will continue to rise! As far as the current global freight rates are concerned, there is no highest, only higher!

Europe and America

freight

Price increase