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The ship's three bursts! A new wave of price hikes is coming!
May 24,2024
CCTV finance also reported this phenomenon. Recently, a number of shipping companies have issued price increase letters, raising the rates of major routes. Today, the freight rates of routes from Asia to Latin America have soared from more than US $2000 per 40-foot box to US $9000 to US $10000, and the freight rates of routes such as Europe and North America have almost doubled.
All-route freight rates rise
According to data from the Shanghai Shipping Exchange, on May 17, the Shanghai Export Container Freight Index reported 2520.76, up 9.3 percent from the previous period and up nearly 30 percent from April 26, achieving six consecutive weeks of gains and hitting the highest point since mid-September 2022 (nearly 20 months).
Last week, the US-West and US-East routes rose significantly, by 14.39 per cent and 8.34 per cent, respectively, while the most ferocious increases were in South America, South Africa and West Africa, where freight rates rose by 22.4 per cent, 22.25 per cent and 26.65 per cent, respectively.
At present, due to strong demand and a serious imbalance between supply and demand, the "price hike" continues......
Ship Division issued three price increase notice!
On May 20,Maersk issued three price increase announcements, as follows:
Collection of High Season Surcharge from East China Port to Sihanoukville Port, Cambodia
Maersk will start from May 29, 2024, from the port of East ChinaSihanoukville Port, CambodiaThe new peak season surcharge (PSS) is set at $200 per container and applies to all dry, reefer and 45-foot containers.
Levy to AfricaChina's peak season surcharge
Maersk will implement a new Peak Season Surcharge (PSS) effective from 1 to 24 June. The scope of application includes China, Hong Kong, Indonesia, Japan, South Korea, Mongolia, Macao, Malaysia, Philippines, Singapore, Taiwan, Cambodia, Laos, Myanmar, Thailand, Vietnam,To Botswana, Comoros, Lesotho, Madagascar, Mauritius, Malawi, Mozambique, Seychelles, Swaziland, South Africa, Zambia, ZimbabweAll the containers.
The 20-foot container is $1000, the 40-foot and 45-foot containers are $2000, and the 40-foot dry freezer is $1000. The effective dates for Vietnam and Taiwan are July 1-24.
High season surcharges to countries in the Middle East
From June 1, 2024, Maersk will increase its services from Brunei, China, Hong Kong, Vietnam, Indonesia, Japan, Cambodia, South Korea, South, Laos/Myanmar, Malaysia, Philippines, Singapore, Thailand, East Timor,To United Arab Emirates, Bahrain, Iraq, Jordan, Kuwait, Oman, QatarThe Peak Season Surcharge (PSS).
$1000 for 20-foot dry and refrigerated containers and $1250 for 40-foot dry and refrigerated containers. In addition, Taiwan, China will enter into force on June 15.
Industry insiders believe that the current round of freight rate increases are mainly affected by many factors.
First of all, the Red Sea crisis is still an important reason. Due to the increase in sailing distance and cost due to the detour, the shipping company took measures to stop the navigation in response to the lack of capacity, which further increased the freight rate.
In addition, container shortages, port congestion, and increased transport demand due to global demand recovery have also had an impact on freight rates. Freight rates are expected to remain high in the short term.
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