General

Still delaying delivery?

Still looking forward to a drop in freight rates?

Don't wait, it's up again!

There are internal sources saying that with the continuous surge in freight volume, ocean carriers are preparing to significantly increase short-term freight rates again.

This week, the spot prices of containers from Asia to Europe soared further, especially in Mediterranean ports.

Some carriers said that in the Trans-Pacific region, the space between late May and June has been "sold out".

The Nordic component of the Baltic Freight Index (FBX) rose by 5% this week to reach US$8,151 per 40 feet, a significant increase of 475% compared to the same period last year.

The spot price of FBX in the Mediterranean region rose by 11% to US$8,931 per 40 feet, as shippers from Asia are scrambling for the extremely tight and in short supply of available space to meet the emergency inventory replenishment during the summer holidays. Compared with 12 months ago, short-term interest rates have soared by 345%.

According to data from the Ningbo Containerized Freight Index (Ningbo Containerized Freight Index), due to the "maintaining high level" of transportation demand and the insufficient supply of space on the route, some cargoes were forced to postpone their shipments.

This week, the Nordic FAK rate was as high as $14,000 per 40 feet.

According to an offer from a freight forwarding company in Shenzhen, the freight rate from a major port in China to Felixstowe or London Gateway at the end of May is US$12,000 per 40 feet, which is said to be a very favorable price.

Insiders broke the news that the space for May is basically fully booked, and demand will remain highly active until the beginning of the third quarter.

For the trans-Pacific trade route, the price of FBX from Asia to the West Coast of the United States rose 4% this week to US$5041/40 feet.

Spot prices on the East Coast rose 6% to $6588/40 feet.

The US National Retail Federation predicts that demand for imports from Asia shows no signs of abating. Retailers' frantic purchasing behavior to replenish low inventory levels will continue for several months until the peak season.

According to Mike Foreign Trade, it was learned that on the normally strong transatlantic routes, cargo owners from Northern Europe still struggle to obtain space and are forced to pay higher rates and large surcharges to ensure shipments.

In addition, the price of FBX from Northern Europe to the East Coast of the United States rose by 5% to $3,596/40 feet, almost twice the price a year ago. CMA CGM also increased the transatlantic Sea Priority Go surcharge to $2,000 per 40 feet.

This means that you book a box at a higher price and pay PSS and BAF. This is not over yet. In order to ensure that the container is actually transported, you have to pay another 2,000 US dollars. "

Since the spot market index only represents the average price in the market, the shipper who pays at this rate level cannot guarantee the release of empty equipment or the accuracy of the booking, and the shipper, in order to ensure the successful delivery, often makes the booking price far away. Much higher than the market price!

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