Logistics: Freight cost will increase sharply in the last quarter of the year
MEKSEA.COM – This year, freight cost witnessed a record price rise and experts forecast it will continue to increase in the last quarter of the year. This seriously affects the business activities of many import-export companies. What’s the solution to the situation of increasing freight cost?
According to SSI Research’s Logistics Industry Update Report, the more severe congestion and disruptions have pushed freight rates to break the record of recent year. Worth mentioning, some long-distance routes such as Asia-Europe and Asia-North America have increased about 4-8 times in the past 1 year. For example, the cost to go from Hai Phong Port of Vietnam to Chicago was just over 3000 USD last year, this year this number has reached more than 22,000 USD for 1 container of 40’.
SSI Research’s forecast, freight cost will probably peak in the last quarter of 2021, then adjust slightly in the first half of 2022. The impacts of rising sea freight rates are becoming more and more to international trade.
CMA-CGM and Hapag-Lloyd have frozen freight rates. (photo: Internet)
However, in recent days we have good news for global transportation, which is “CMA-CGM and Hapag-Lloyd have frozen freight rates”.
The information that CMA CGM and Hapag-Lloyd freeze freight rates is really positive. From this, import-export companies hope that many other shipping lines will follow and reduce the possibility of soaring container freight rates in the future.
The shipping lines announced that they stop increasing freight rates until Feb 1st, 2022 in order to prioritize long-term relationships with customers. Taking this chance, importers are sure that they can fill up their storage from now without increasing freight cost.
| What Meksea can provide for this tough situation? |
| For the high cost: A combining container services can help business to save much cost for ocean freight. Meksea can help to stuff many of defferent seafood items into 1 container, you can purchase a diversity of goods with high quality and saving cost.
For the booking: We’ll follow strictly the shipping schedule, will update you with the clear time and push for your booking in priority as our agent best solution. So what is your next purchase plan? Meksea are eager to hear from you and let us bring you our best value from Viet Nam. |
By Ohana (Business Team)
(Reference: Phaata.com (According to S&P Global))
If you found this topic interesting, please click the Like button below, so we may continue to expand this topic. Leave a comment with your thoughts for the author team to discuss