Maersk predicted that conditions such as supply chain bottlenecks and shortages of containers due to surging demand will continue until the fourth quarter of 2021 before returning to normal; Evergreen Marine General Manager Xie Huiquan also said previously that congestion is expected to be delayed until the third quarter.
But just because congestion is relieved doesn’t mean that freight rates will go down.
According to analysis by Drewry, a leading British maritime consultancy, the industry is currently at the peak of an unprecedented business upturn cycle. Drewry expects freight rates to decline by 2022.
For its part, Seaspan, the world’s largest independent containership owner, said the hot market for container ships may continue into 2023-2024. Seaspan has ordered 37 ships in a frenzy since last year, and these new ships are expected to be delivered in the second half of 2023 to the middle of 2024.
The major shipping companies have recently issued a new round of price increase notices.
Hapag-Lloyd raises GRI by up to $1,200 effective June 1
Hapag-Lloyd has announced an increase in the General Rate Increase Surcharge (GRI) for eastbound services from East Asia to the United States and Canada effective June 1 (date of receipt at origin). The charge applies to all types of containers including dry, reefer, storage and open top containers.
The charges are: $960 per container for all 20-foot containers and $1,200 per container for all 40-foot containers.
East Asia includes Japan, Korea, Mainland China, Taiwan, Hong Kong, Macau, Vietnam, Laos, Cambodia, Thailand, Myanmar, Malaysia, Singapore, Brunei, Indonesia, Philippines and the Pacific Rim of Russia.
Hapag-Lloyd raises GRI on India, Middle East to US, Canada routes
Hapag-Lloyd will increase GRI on India, Middle East to US and Canada routes by up to $600 from May 15.
Regions covered include India, Bangladesh, Pakistan, Sri Lanka, UAE, Qatar, Bahrain, Oman, Kuwait, Saudi Arabia, Jordan and Iraq. The details of the price increase are as follows.
Hapag-Lloyd raises rates on Turkey and Greece to North America and Mexico
Hapag-Lloyd will increase the freight rates from Turkey and Greece to North America and Mexico from June 1 by $500-1000. The details of the price increase are as follows.
- Hapag-Lloyd imposes peak season surcharge on Turkey-Nordic routes
Hapag-Lloyd will impose a peak season surcharge (PSS) on the Turkey-North Europe route as of May 15. The details of the price increase are as follows.
Duffy raises GRI on Asia-North America routes by up to $1600
Duffy will increase GRI from Asian ports to US and Canada routes by up to US$1,600/ct from June 1. The details of the price increase are as follows.
- MSC raises GRI and fuel surcharges on Asia-US routes
MSC will increase the GRI and fuel surcharges on Asia-US routes from June 1. The details of the price increase are as follows.
This shows that the price of sea freight will continue to rise in the near future.
Post time: May-12-2021