Some Shipping Companies Have Raised Their Freight Rates Since Mid June

Recently, Shenzhen (Yantian port, Shekou port and Chiwan Port) and Guangzhou (Nansha port) have strengthened the inspection and prevention measures related to the epidemic situation.

The operation efficiency of ports and terminals in the region has slowed down, and the container detention time in ports has lengthened.

Some people in the industry expect that the freight rate, which is already at an all-time high, will continue to break the record.

Stricter emission regulations will eliminate a large number of heavily polluting ships, and large-scale government stimulus plans in major economies will promote a new round of inventory replenishment.

Port congestion, navigation delay, capacity imbalance, inland transport delay, coupled with the continuous strong demand for imports in the Americas and other multiple factors, may lead to further increase in container freight. Many shipping companies, such as Herbert, MSC, COSCO, Matson and Shenyuan steamship, have announced a new round of cost increases since mid June.