General

August and September are the traditional peak season for shipping. With the peak season ahead of this year, the current shipping market is booming. The specific manifestation is that the price has risen again!

According to the latest data from the Shanghai Shipping Exchange on September 3, the Shanghai Export Container Freight Index stood at 4502.65 points last week, a weekly increase of 2.67%, a weekly high for more than three consecutive months.

Among them, the freight rate of the Far East to the US West route increased the most, and the freight rate per FEU exceeded US$6,000 to US$6,266 for the first time, an increase of 5.33%; the Far East to the US East route was US$11648 per FEU, an increase of 4.58%.

According to the Global Container Freight Index (WCI) released by Drewry, the WCI freight index continued to rise by 1.7% or $170 a week until September 2, and the freight rate per FEU has reached $9,987.27.

All major shipping companies have released details of the new wave of price increases from September to October, including comprehensive rate increase surcharges (GRI) and fuel surcharges (BAF).

The list is as follows:

Comprehensive rate increase surcharge (GRI)

Asia-U.S. route adjusts GRI from September 15

(Yangming is September 20)

details as follows:

Asia-U.S. route adjusts GRI from October 1st

details as follows:

Fuel surcharge (BAF)

Asia-U.S. route adjustment BAF

Valid from October 1st to December 31st, 2021

details as follows:

In addition to the price increase, September shipments also face a problem, that is: the goods can not be shipped out of your imagination——

First of all, there is a shortage of containers of various sizes in China's ports across the board.

The latest container condition estimates for major ports in Asia

via: Maersk

Second, there is congestion in many important ports around the world.

Latest news of major ports

via: Maersk

In addition, according to a report by the well-known logistics media The Loadstar, shipping companies are considering launching a new round of blank voyages from Asia around China's 11th Golden Week holiday to support their significant increase in freight rates in the past year.

However, according to a survey by the Danish consulting and research company Sea-Intelligence, there is no sign that shipping companies will reduce their capacity during the Golden Week. In terms of capacity reduction, only 2.3% of the total capacity is expected to be reduced during the Golden Week in 2021, while the average reduction rate from 2014 to 2020 is 9.8%.