The freight has skyrocketed! South American freight rate soared to 4600 dollars!
Hapag-LIoyd sets a new record for freight rates in Europe and Asia
Under the severe impact of the epidemic this year, global trade has been slowed down.
However, due to the decline in international logistics capacity, container freight has risen sharply. The freight rate of the West America route has increased by about three times compared with the beginning of the year, and the freight rate of South American routes has also skyrocketed, all routes freight rised without exceptions.
After the African route increased by 100%, the U.S. route increased by 60%, and the European route increased by 50% in October, as of Wednesday, the South American East, South American West, and Caribbean routes continued to soar, rising to 4600 US dollars, 4800 US dollars and 5000 US dollars respectively.
The phenomenon of shortage of containers, explosion of cabins, dumping of containers, port jumping, and frantic increase in freight rates has not been alleviated, and it has become the current operating norm. Previously, shipping companies used to suspend shipping to control capacity and guarantee freight rates. However, as the epidemic situation and trade uncertainty increase, they were been forced to suspend some shipping routes.
The maritime THE Alliance plans to cancel a quarter of Asia-Northern Europe routes in the first week of December, which is in line with the plan of Hapag-Lloyd, a member of the Alliance, to increase the freight rates of its routes by 70%.
Hapag-Lloyd recently informed customers that starting from December 1st, the FAK fee for freight from Asia to Northern Europe (excluding the UK) will be increased by US$2,000 to US$4890/40'H/C.
