In the past few weeks, due to the continuous reduction of shifts by shipping companies, insufficient shipping space, soaring oil prices, rising fuel costs and other factors, a number of shipping companies have announced an increase in freight rates, and extremely low freight rates may be coming to an end.
Shippers face new round of freight rate hikes
At present, shipping companies Hapo Lloyd, Maersk, Dafei and MSC have successively announced an increase in the comprehensive rate increase surcharge (GRI) of 540-1250 US dollars.
★Hapag-Lloyat Raises GRI for East Asia to North America★
Hapg-Lloth announced that from May 1 to East Asia to the United States and Canada 20 'and 40' (including dry boxes, refrigerated containers and special containers) transport of goods were increased by the comprehensive rate increase surcharge (GRI) of 800 US dollars, 1000 US dollars.
★Maersk Upgraded Asia to North America GRI and DHC★
Maersk issues a customer notice, it will increase the comprehensive rate increase surcharge (GRI) of US $900-1250 for all types of containers from Asia Pacific to the United States and Canada from April 24. The specific charging standards are adjusted as follows:
● All 20 'dry boxes increase by 900 USD;
● All 40 'dry boxes increase by 1000 USD;
● All 40 'high cabinets increase 1000 USD.
● All 45 'high cabinet dry box increase 1250 USD.
In addition, Maersk is in the process of revising the increase in Dock Handling Service-Destination (DHC) document operating fees for imported containers from global to North America. The new DHC rates will take effect on May 1, 2023.
★Dafei Announcement Raises GRI★
Dafei also issued a notice to customers on the same day, it will increase the comprehensive rate increase surcharge (GRI) of US $540-1013 for all containers entering heavy containers from Asia Pacific to the United States and Canada from April 15. The specific charging standards are adjusted as follows:
TO/via: US-West and Canadian ports
● All 20 'dry boxes and reefer boxes increase by 540 USD;
● All 40 'dry boxes and reefers increased by 600 USD;
● All 40 'high cabinets including reefer add 600 USD.
• All 45 'dry cases increased by 760 USD.
• All 53 'dry cases increase 960 dollars.
TO/via: US and Gulf of Mexico and Canadian ports
● All 20 'dry boxes and reefer boxes increase by 540 USD;
● All 40 'dry boxes and reefers increased by 600 USD;
● All 40 'high cabinets including reefer add 600 USD.
• All 45 'dry cases increased by 760 USD.
TO/via: via US and Canadian ports to inland points
● All 20 'dry boxes and reefer boxes increase by 720 USD;
● All 40 'dry boxes and reefers increased by 800 USD;
● All 40 'high cabinets including reefer add 800 USD.
• All 45 'dry cases increased by 1013 USD.
★MSC announces upward revision of GRI★
MSC has also announced an increase in the composite rate surcharge (GRI) for all heavy containers exported to the United States and Canada from April 15. The specific charging standards are adjusted as follows:
TO/via: US-West and Canadian ports
● All 20 'containers increase by 540 USD;
● All 40 'containers increased by 600 USD;
● All 40 'high cabinets increase 600 USD.
TO/via: via US and Canadian ports to inland points
● All 20 'containers increase by 720 USD;
● All 40 'containers increased by 800 USD;
● All 40 'high cabinets increase 800 USD.
U.S. line spot freight rates or up to 1500 dollars or more
in fact, shipping companies plan to cancel as many as 50 voyages from Asia to the East and West Seas this month to ease weak demand. Spot freight rates for containers from Asia to the US have plummeted from more than US $20000 per 40-foot container in mid -2021 to just US $1000, and carriers urgently need to raise spot freight rates to promote stalled annual contract negotiations.
A recent report from the Loadstar shows that shipping lines have largely succeeded in balancing supply and demand on trans-Pacific and Asia-Europe routes over the past few weeks, with last week's export voyage described as "nearly full". As a result, spot freight rates rose slightly.
A logistics source told Standard & Poor's Global (S & P Global) Platts Container Freight Review (Platts Container Freight Comment): "The current ship space is insufficient; the status quo is that the ship will be fully loaded before the third week of April, so the carrier may try to further increase the April freight rate."
, some freight forwarders pointed out that the weekly cargo volume has increased slightly recently. Under the condition of the shipping company's shift reduction, the shipping space is insufficient. In addition, due to the expiration of the US line at the end of April, the new contract negotiations are currently under way. The shipping company also needs to raise the spot market freight rate to facilitate the long-term cooperative price. However, due to the high increase in capacity this year, the new capacity is estimated to be difficult to digest. The shipping company revealed that the current spot price is about $1050, and the goal is to raise it to more than $1500.
meanwhile, oil prices surged after the Organization of the Petroleum Exporting Countries alliance of oil producing countries made a surprise decision Sunday to cut production. Fuel prices are likely to continue to move higher in the coming weeks, potentially causing shippers to face a new round of fuel surcharges.
Earlier, a large freight forwarding company pointed out that, including Yangming, Evergreen and Yixing, Meisen and other shipping companies, have informed the April per large box (40-foot container) freight rate increased by 600-1000 US dollars, estimated that the actual increase can be about 300 US dollars.
And this time Hapg-Lloyd, Maersk, Dafei, MSC have been raised GRI, perhaps more shipping companies will follow up announced to raise GRI.
Source: Shipping Online