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Shipping Fee Will Increase Again From July 1st!

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Although Yantian Port is fully resuming operations, the congestion and delays of South China ports and terminals and the availability of containers will not be solved immediately, and the impact will slowly extend to the port of destination. Port congestion, navigation delays, capacity imbalances (especially from Asia) and inland transportation delays, coupled with the continued strong demand for imports from Europe and the United States, will cause container freight rates to rise.

The current status of freight rates in the market is not the highest, only higher!

Many shipping companies including Hapag-Lloyd, MSC, COSCO, Matson, Kambara Steamship, etc.,announced a new round of fee increase notices starting after mid-June.

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The current chaotic shipping market has driven major international buyers crazy!

Recently, one of the top three major importers in the United States, Home Depot, announced that under the extreme circumstances of current port congestion, shortage of containers, and the Covid-19 pandemic dragging down transportation progress, it will lease a freighter, which is owned by its own and 100% exclusively for Home Depot., to alleviate the current supply chain problems. According to estimates by the American Retailers Association, U.S. port container imports more than 2 million TEU every month from May to September, which mainly due to the gradual recovery of economic activities. However, U.S. retailer inventories will remain at low point in the past 30 years, and the strong demand for restocking will further boost the demand for cargo. Jonathan Gold, vice president of supply chain and customs policy for the American Retailers Association, believes that retailers are entering the peak season for shipping holiday merchandise, which will begin in August.

There is already news in the market that some shipping companies are planning a new round of price increases in July.

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According to the latest news,

Yangming Shipping sent a notice to customers on June 15 that the price of Far East to the United States will be increased on July 15.

Far East to West America, Far East to East America and Far East to Canada will be charged an additional $900 per 20-foot container, and an additional $1,000 for each 40-foot container. This is Yang Ming's third price increase in half a month. It announced on May 26 that it would increase the GRI since July 1, with an additional charge of $1,000 per 40-foot container and $900 for a 20-foot container; on May 28, it notified its customers again that it would charge a comprehensive rate increase surcharge (GRI) from July 1st, which was an additional $2,000 per 40-foot container and an additional $1800 per 20-foot container;It was the latest price increase on June 15th.

MSC will increase prices on all routes exported to the United States and Canada from July 1st.

The increase is $2,400 per 20-foot container, $3,000 per 40-foot container, and $3798 per 45-foot container.

Among all, the $3798 increase set a record for a single increase in shipping history.




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