Nowadays, the shipping market has experienced a wave of price increases, with some shipping companies experiencing tight supply and even having difficulty finding a single container. March and April, traditionally known as the off-season for foreign trade, are not too dull.
Recently, shipping companies such as Maersk, Herbert, COSCO, and Mediterranean have issued price increase letters, with a maximum increase of $2000 for a 40 foot container, and some routes experiencing a nearly 70% increase.
On April 19th, the latest Shanghai Container Export Freight Index showed that the freight index rose by 12.5 points, with a weekly increase of 0.7%, achieving three consecutive increases. Among them, freight rates on Far East and South American routes continued to soar.
The price increase this time is mainly concentrated on routes in North America, South America, and the Red Sea, with shipping companies such as Maersk and Chittagong all raising prices by $500 to $2000. Due to the outbreak of regional conflicts in the Red Sea, multiple shipping giants have suspended navigation in the Red Sea, resulting in a significant surge in freight rates. Ships traveling on European routes still have to detour around the Cape of Good Hope in Africa, resulting in tight shipping space. Booking containers for mid May two weeks in advance may not be possible.