Flight suspension and cabin explosion! Multiple routes have increased prices by over 100%
Nowadays, we are in the period of shipping at the end of the year, and many companies want to ship as soon as possible in order to receive payment. However, in the ongoing Red Sea crisis, multiple shipping routes may be out of stock, and there may be a situation where one box is difficult to obtain. Nowadays, the freight rates from Shanghai to Europe and the East are significantly increasing, and the freight rates will continue to rise in the second half of January.
Prices on multiple routes such as the European and American routes have skyrocketed.
The intensification of the Red Sea crisis has led to a significant surge in sea freight prices, affecting not only European routes, but also triggering a chain reaction between the US route and other routes, causing a surge in the market.
In the first week of 2024, the Shanghai Export Container Freight Index increased by 137.07 points to 1896.65 points compared to the previous week, with a weekly increase of 7.79% and a monthly increase of 83.75%.
The European and Mediterranean routes saw increases of 6.57% and 3.7% respectively. However, in the past two weeks, there has been a significant increase in spot container freight rates from Asia to Europe. According to a Drury report, ticket prices for the Shanghai to Rotterdam route have increased by 115% compared to two weeks ago, and transactions between Shanghai and Genoa have increased by 114%, both exceeding 100%.
According to industry insider Dawei, the average price of container containers in the European market was about 2500 yuan last year. Now, as of January 2024, it has risen to over 5000 yuan, and the price has doubled and is continuing to rise. In terms of the US shipping line, the average price of container containers was about 1800 yuan last year, and now the market price is nearly 3000 yuan. Another freight forwarder stated that the current market is experiencing a surge in prices, both in Europe and the United States.