Massive Price Increase for the Freight Rate!

The recent freight cost can be extremely expensive, twice and three times as much as before. Many export shipping companies in China have recently raised their prices successively. The recovery of global trade and the poor situation of the epidemic, lack of cabinets in ports, and congested terminals have directly led to skyrocketing freight rates.  

1. Decline in international logistics capacity

Under the influence of the epidemic, international logistics capabilities have declined. Many shipping routes were canceled and delayed. Due to the reduction of shipping vessels, the transportation capacity dropped sharply. Although transportation capacity is falling, the trade in the entire aquatic product industry is usually going on, so the freight rate naturally rises.

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2. Shortage of containers and congested ports

The market cannot solve the problem of port congestion and lack of boxes in the short term. Ports of various countries will experience congestion during the traditional peak seasons, especially around Christmas and New Year. The shortage of containers also exists in the past peak seasons. However, the current problem is the continuous increase in import and export trade demand.

The problem for port congestion and shortage of containers in the short term is a rigid constraint. Before mid-February next year, the container supply and demand situation is still challenging to restore balance. And the shortage of containers will continue until after the Chinese New Year in 2021.

Ocean Treasure Reminder

For seafood suppliers, to speed up the offer’s efficiency, it is recommended to provide the FOB price directly, and the freight can calculate later separately. It is not easy to make a timely quotation for the cost of freight at this moment now.

For our clients, better understand why the price of products increases due to the shipment difficulty and why sometimes we can hardly offer the price in time.

In summary, due to the decline in capacity, increasing freight rates, and the shortage of containers, the freight rate can only be adjusted and adjusted again and again.

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