2021 freight rates hit a new high again!
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2021 freight rates hit a new high again!

Views: 54     Author: Site Editor     Publish Time: 2021-01-11      Origin: Site

2021 freight rates hit a new high again! The freight rates of European and South American routes soared overnight!

New surcharges imposed by shipping companies! Develop shipping plans as early as possible

Since August this year, the global situation of shortage of containers, explosion of containers, dumping of containers, port jumps, and frantically rising freight rates has continued. It has not been effectively alleviated since 2021. The freight forwarders reminded the shippers to book the counters in advance, complaining endlessly...

The global epidemic situation is still extremely severe, which has had an impact on ports and shipping operations, resulting in large-scale port congestion. Due to the increase in operating costs, shipping companies have begun to impose various surcharges on cargo owners in addition to rising freight rates.
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Freight rates in 2021 hit a new high again, and freight rates in Europe and South America have skyrocketed overnight!

In recent months, the "historical record" of container freight rates has become the norm. On some routes, the upward trend of freight rates has not abated at all. Following the sudden loss of control on the 28th at the end of last month, the U.S. line freight rate soared by nearly 10% compared with the previous day! The European-Mediterranean route and South American route also usher in soaring freight rates! !

According to the latest data from the Shanghai Shipping Exchange, China's export container shipping market is generally operating at a high level. The freight rates of most routes in Europe, the Mediterranean, Africa, and South America have increased significantly. Friends who want to ship, make a shipping plan as soon as possible!

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According to the Freightos Baltic Daily Index (Freightos Baltic Daily Index), on January 1, 2021, the freight rate of the China/East Asia-Northern Europe route hit a record high, reaching $6,992/FEU, compared to the last day of 2020 on December 31. The price of US$5,662 jumped 23.5% overnight.

On January 1, 2021, the freight rate of the China/East Asia-Mediterranean route hit a record high, reaching $7,101/FEU, a sudden jump of 25.8% from the freight rate of $5,644 on December 31, 2020.

The most exaggerated is the freight rate to the east coast of South America. In just 5 and a half months, the freight rate soared by 1535%! !

The report shows that the freight rate of this route has now exceeded 8000 USD/TEU to reach 8173 USD/TEU. This is the first time that the freight rate of this route of SCFI has broken 8000. It is necessary to know that the index of this route broke for the first time last week. 7000 USD/TEU, and the previous week was the first time to break 6000 USD/TEU.

What's more worth mentioning is that due to the impact of the epidemic, the freight rate of this route dropped below 500 USD/TEU for the first time in July this year. This means that in 5 and a half months, the freight rate of this route has increased by 1535 percent.

Starting from January 1, shipping companies will levy a new round of surcharges

With the shortage of containers and soaring freight rates, major shipping companies have charged surcharges.

Following the increase in surcharges in mid-December, some shipping companies began implementing general rate increases (GRI) from January 1. On January 1, CMA CGM, COSCO (only applicable to service contracts), Evergreen, HMM, ONE, Yang Ming and ZIM announced Asian American GRIs of USD 1,000 per FEU; in addition, Hapag-Lloyd listed on January 1. The price of each FEU GRI released is US$1,500, including the previously delayed GRI.

Hapag-Lloyd will increase the new freight rates from Asia to Europe and the Mediterranean from January 1, 2021. Hapag-Lloyd also announced that it will charge GRI for all dry containers from East Asia to the United States and Canada from February 1, 2021.

Maersk issued an announcement stating that starting from January 1, 2021, 40-foot reefer containers from Mainland China, Hong Kong, Macau and Mongolia to the Nordic region will be charged a peak season surcharge of US$2,000 per box.

In addition, many carriers such as CMA CGM, COSCO, Evergreen, HMM, ONE, OOCL, YangMing, etc., serving the East Asia/U.S. trade routes have adjusted their fuel surcharges, effective from January 1 to March 31, 2021

In recent months, the full order has also led to the continuous increase in prices. The lack of boxes and high freight rates have been making domestic freight forwarders and shippers complain.

The above new surcharges for shipping companies are just the tip of the iceberg. Please consult the corresponding shipping companies for the charges of other shipping companies.
The high degree of uncertainty in the global economy and trade may continue to affect the fluctuations in the global container liner shipping market. At present, in the current environment, there is still a shortage of cabins and containers, one box is hard to find, and the port is jammed everywhere, and the shipping schedule is delayed!

I would like to remind you once again that the shippers and freight forwarders who have planned shipments in the near future should communicate well with shipping companies and customers, and make sure to make an early decision to arrange bookings in advance to avoid affecting shipments!

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