Container freight rates are at a record high

30/05/2021
For the first time, the cost of transporting a container from Asia to Europe exceeded 10,000 USD, in the context of the global supply chain still facing many uncertainties.
Bloomberg News cited new figures released on Thursday (May 27), showing that the cost of transporting a 40-foot container from Shanghai (China) to Rotterdam, the Netherlands) has reached $ 10,174, 3 .1% higher than compared to 1 week ago and 485% up over the same period in 2020.
 
The cost of transporting 1 container of goods from Asia to Europe exceeds 10,000 USD


The aggregate price index of eight major shipping routes in the world has also increased by nearly 300% over the same period last year, putting importers and exporters in a difficult situation.

This year, many shippers have been charged more than $10,000 per container in the US and elsewhere. It is known that when signing contracts with sea carriers, importers and exporters of goods must accept high additional fees to ensure timely delivery and unloading.

After a period of decline due to the pandemic in 2020, global consumer demand increased sharply again and companies began to promote hoarding of goods, leading to a boiling point in sea freight activities. 

In addition, disruptions from the blockage of the Suez Canal at the end of March and congestion at seaports are believed to be the main reasons why the demand for shipping containers outstrips supply, pushing up freight rates increased sharply. However, ocean carriers are enjoying great profits. "Continuing higher costs in the supply chain and freight transport could affect our full-year balance of profit," said Michael O'Sullivan, CEO of New Jersey-based clothing retailer Burlington Stores... In contrast, shares of A.P.Moller-Maersk, the world's largest container shipping line, set a record earlier this week. Shares of ZIM Integrated Shipping Services, an Israeli shipping company, also tripled in their IPO in January. Rising sea freight rates have boosted orders for container ships in the past five months, according to the BIMCO International Cargo Ship Association.

Older articles

Health-secure workers during the epidemic ensure industrial growth

Health-secure workers during the epidemic ensure industrial growth

MOIT and local with respect prevention Covid-19 in the enterprise zones,...

HCMC tests 320,000 factory workers for Covid

HCMC tests 320,000 factory workers for Covid

Large-scale coronavirus testing is being conducted among more than 320,000...

Vietnam encourages Apple suppliers to vaccinate workers against COVID-19.

Vietnam encourages Apple suppliers to vaccinate workers against COVID-19.

Samsung and factories in Apple's supply chain have been encouraged by the...

Sign up to download the profile

Complete your information in the form below

You did not use the site, Click here to remain logged. Timeout: 60 second