Companies concerned about the new tariffs that will be implemented in Europe and the United States have adopted the strategy of shipping ahead of schedule, coupled with the ongoing crisis in the Red Sea region, resulting in the return of serious port congestion on the Asia-Europe route, which directly pushed up shipping rates sharply. Some industry bodies predict that freight rates may climb to the level of $20,000, and may even touch the highest point during the epidemic, and this high freight rate is expected to continue until the Lunar New Year.
Specific data show that spot shipping prices from the Far East to the United States have seen significant monthly increases in recent months, reaching between 36% and 41%. In addition, shipping companies have increased their surcharges by about 140 percent, which has combined to push the shipping rate of a 40-foot standard container (FEU) to about $12,000.
Shipping platform Freightos, which tracks spot FEU prices on 12 major global routes, shows that since May, rates have rebounded and jumped to $4,500, more than three times the pre-Covid-19 rate. In late June, the FEU rate for the Far East to the West Coast of the United States exceeded $7,000, while the rate for the Far East to the East Coast of the United States soared all the way to more than $8,000.
The vice president of global supply chain at ITS Logistics pointed out that the current severe shortage of containers and overseas capacity constraints have forced shippers to turn to the spot market and try to find container equipment directly at the point of shipment. This shift has not only increased competition in the market, but also sharply pushed up freight rates to highs not seen in the two years since the aftermath of the pandemic.
Declaration: The content and template of this article are organized from the Internet, and the copyright belongs to the original author; If there is infringement, please inform and contact to delete.
- The export of textiles and garments across the country declined in the first eight months...
- Bestline Logistics: Building an efficient global Supply chain service system...
- Steel camel caravans gallop along the New Silk Road...
- JIANGSU BESTLINECN MODERN LOGISTICS CO., LTD. : A backbone force in the logistics field of Changzho...
- The export value of yarns, fabrics and home textiles increased in the first half of the year...
- JIANGSU BESTLINECN MODERN LOGISTICS CO., LTD. : The powerful choice to address international logist...
- Textile exports from January to June drove the export of textile and garment products...
- The Strategic Value and Application Practice of bonded zones in International Logistics...
- The situation of China's garment export industry...
- Bestlin Logistics: Practical Practice of International Logistics Professionalism...