Freight rates have doubled in January! Many shipping companies have raised freight rates for European and continental routes early next year.

On the 19th local time, Mu Zhimode, one of the leaders of the Houthi armed forces and a member of the Supreme Political Committee of the Houthi armed forces, stated that the United States tried to establish channels to communicate with the Houthi armed forces, but the Houthi armed forces refused to communicate with the United States and stated that " Communicating with the United States makes us lose face."

Another senior official of the Houthi armed forces in Yemen also said that day that attacks on ships sailing in the Red Sea would not stop.

UN official warns: Red Sea situation increases shipping costs and will lead to rising prices

The international shipping artery from the Suez Canal to the Red Sea connects the Red Sea and the Mediterranean Sea and is one of the busiest waterways in the world. Since the outbreak of a new round of Palestinian-Israeli conflict, Yemen’s Houthi armed forces have continuously attacked ships “related to Israel”. In order to avoid this dangerous waters, many international shipping companies have successively announced the suspension of Red Sea routes.

Hoffman, head of the Trade Logistics Division of the United Nations Conference on Trade and Development, warned on the 19th local time that the disruption of the route from the Suez Canal to the Red Sea will increase shipping costs and ultimately lead to an increase in consumer goods prices. Hoffman mentioned that current container freight rates have increased significantly.

As dominated shipping agent of customers,most suppliers will choose to try Sunny Worldwide Logistics due to Sunny's professional and closely order following service after cooperated.

Freight rates have doubled in January! Many shipping companies have raised their prices for early next yearFreight rates for European routes

Tensions in the Red Sea further drove up freight rates on European and Mediterranean routes.

On December 19, multiple freight forwarding company personnel told The Paper that the spot market freight rates updated by many shipowners in the past two days show that many European routes and Mediterranean routes have doubled in price in early January next year.
Recently, many international shipping giants have announced the suspension of Red Sea sailings or detours around the Cape of Good Hope in Africa. Some shipping companies have also informed that they will stop picking up cargo in the Red Sea area and stop booking new cabins. Many industry insiders pointed out to reporters that the situation is unstable in the short term and shipping capacity is affected, which may further push up freight rates on Asia-Europe routes.

Regarding the Mediterranean route, a Shanghai freight forwarder told The Penguin News reporter on December 19 that it had received the latest quotation from Evergreen Shipping Lines (EMC). The freight rates at the beginning of next year are respectively US,694/TEU (container with a length of 20 feet) and USD 5988/FEU (container with a length of 40 feet). This has doubled compared with the quoted prices of approximately US,900/TEU and US,800/TEU at the end of December this year. Compared with the freight rates of about US,600/TEU and US,200/TEU in the middle of this year, it has increased by about 2 times.

Regarding European routes, another Qingdao freight forwarder said on the 19th that Hapag-Lloyd (HPL) has announced the latest freight rates, which are US,600/TEU and US,000/FEU at the beginning of next year, compared with US,050/TEU and US,900 at the end of December. USD/FEU rose by about 50% to 60%.

The above-mentioned freight forwarder also received a quote from the shipping company on the route from the Far East to the east coast of the Mediterranean on the 18th, which has been significantly increased. The freight rate on the Mediterranean route ZMP, exclusively operated by ZIM, will double in early January next year compared to the freight rate in late December this year.

According to the quotation obtained by the reporter, the freight rate to the northern port of Israel (HAIFA) has risen to US,800/FEU, and the freight rate to the second largest port in western Israel (Ashdod) has risen to US,000/FEU. The quoted prices for the Israeli ports mentioned above include additional war insurance. It is worth noting that the freight rate on the route from China to Europe has risen sharply for four consecutive weeks.