Freight prices are skyrocketing! Volume surges! Shipping company announces another round of price increases!
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With the Black Friday and Cyber One sales season approaching, a large number of Amazon warehouses have experienced liquidation, with the US and West being the most serious.
For sellers and cargo owners, this also means transportation delays, inventory backlog, slow warehousing, slow putting on shelves and other problems.
As the peak season approaches in the second half of the year and shipments surge, the container shipping market is also experiencing overcrowding.
On the European route, due to the shipping company’s notification of price increases in November, most ships experienced cabin explosions and large price increases at the end of October. In addition, due to suspension of sailings and delays in the first week of November in East China, the European route capacity is expected to be missing by about 28%. %.
The latest Maritime Silk Road Index Ningbo Export Container Freight Index (NCFI) shows that the European route freight index is 1496.4 points, an increase of 16.4% from last week; the Didong route freight index is 1316.7 points, an increase of 24.4 points from last week. %; the freight index for the West-West route was 1740.3 points, an increase of 27.3% from last week.
Recently, the US-West and US-East routes have encountered serious shortages of space at the end of October. Although some shipping companies still provide a small number of sailing booking services, this situation is expected to continue until mid-November.
At the same time, routes in South America and Southeast Asia are also facing similar space shortage issues. As tensions over space on various routes intensify, transportation prices are also showing an upward trend.
Recently, many shipping companies, including Hapag-Lloyd, HMM and Maersk, have successively issued new freight rate adjustment plans and notices on the imposition of peak season surcharges. These adjustments involve many important routes.
On October 30, shipping giant Hapag-Lloyd issued an announcement on adjusting freight rates from the Far East to Europe. Hapag-Lloyd said that the ocean freight rate (FAK) for all types of cargo transport between the Far East and Europe will be increased.
The new rates apply to cargo transported in 20-foot and 40-foot dry and refrigerated containers, including high containers, where rates will be imposed on November 15, 2024.
Far East to Northern Europe and Mediterranean rates include Marine Fuel Recovery (MFR) and are subject to the Peak Season Surcharge (PSS) and the company’s rate conditions and surcharges.
The specific rates are as follows:
On the same day, South Korean shipping company HMM issued a customer notification stating that starting from December 1, 2024, it will implement GRI (general rate increase) for all services originating from the United States, Canada and Mexico.
USD 2,700 per 20-foot container
USD 3,000 per 40-foot container
USD 3375 per 40ft HC container
USD 3,798 per 45-foot container
In addition, Maersk has recently issued a series of notices imposing peak season surcharges, involving multiple destinations.
Maersk announced that in order to continue to serve the world, it will increase the peak season for all 20-foot and 40-foot dry cargo containers and refrigerated containers from China, Hong Kong, China to Kenya, and all 45-foot high cubic dry cargo containers from November 4, 2024. Surcharge (PSS).
It is USD 1,000 for a 20-foot container and USD 2,000 for a 40-foot and 45-foot container. The details are as follows:
From November 9, 2024, Maersk will increase the number of customers in China, Japan, South Korea, Hong Kong, Cambodia, Laos, Myanmar, Thailand, Vietnam, Brunei, Indonesia, Malaysia, Philippines, Singapore, East Timor, New Zealand, Fiji Islands, France Polynesian PSS.
The new PSS effective date for China, Japan, South Korea, Hong Kong, Cambodia, Laos, Myanmar, Thailand, Vietnam, Brunei, Indonesia, Malaysia, Philippines, Singapore, Timor-Leste and Taiwan to American Samoa is November 24, 2024 day.
The effective date of the new PSS from Taiwan, China to New Zealand, Fiji Islands, and French Polynesia is November 24, 2024.
