Why ocean freight prices rising?

Why are ocean freight prices rising?

The cargo has not been arranged to enter the warehouse, the shipping company will notify the price increase, not only the price rises, but also difficult to find a cabin, even the empty container has become an even more difficult task.

Following the details for your reference:

1. Since the outbreak of the Covid-19, the demand for global cargo transportation has declined sharply. Major shipping companies have suspended routes, reduced the number of export container voyages, and dismantled idle container ships significantly.
2. Affected by the epidemic, the suspension of production by foreign manufacturers has not been alleviated. Looking at the daily update of foreign epidemic reports, the epidemic has not been effectively controlled. Compared with the domestic control of the epidemic, domestic production companies have long been With the resumption of production, the proportion of domestic exports of materials has increased significantly, resulting in a shortage of space.
3. Affected by the U.S. election and the demand for Christmas, many European and American merchants began to stock up.
Since September, the export ratio has risen sharply, causing a large number of containers to accumulate abroad, and there is a general shortage of containers in China. Many shipping companies cannot release equipment orders and frequently fail to pick up boxes.
If you do not consider other reasons and simply look at the time node, the shipping costs will also increase from September to November of the previous year. Therefore, in the three months of this year, the freight rate of China-US shipping routes has skyrocketed by 128%. Other routes are common.

 

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