Following the high freight costs, new problems have arisen in shipping?

Starting from late April this year, it can be felt that freight rates on routes to Latin America, Europe, North America, the Middle East, India and Pakistan have increased, and the increase has become more obvious in May.

Judging from the Shanghai Export Container Comprehensive Freight Index released by the Shanghai Shipping Exchange, the index has continued to rise since early April 2024. Data released on May 10 showed that Shanghai's comprehensive export container freight rate index was 2305.79 points, an increase of 18.8% from the previous week, an increase of 33.21% from 1730.98 points on March 29, and an increase of 33.21% from 1730.98 points on March 29, which was higher than that in November 2023 before the outbreak of the Red Sea crisis. An increase of 132.16%.

Among them, routes to South America and Europe experienced the highest increases.

According to global shipping market trends released by Kuehne Nagel, the world's largest ocean freight forwarding company, on May 9, after the May Day holiday, the overall container supply situation has not improved significantly, and major shipping companies have varying degrees of disruption at major ports of departure. There is a shortage of containers, especially large and high containers. Some shipping companies continue to strengthen control over the use of containers on Latin American routes; even though new ships are being delivered continuously, the number of vacant ships available for lease is decreasing day by day, and the rental fees for ships above 1,700 TEUs are also rising sharply up; new Chinese-made containers have been booked before the end of June. In view of the current situation, freight rates will remain strong in the near future; at the same time, shipping companies are already planning a new round of freight rate increases.

A Shenzhen freight forwarder said that shipping space and containers are tight before and after May Day. On the one hand, China is exploring the South American market, and shipping companies have transferred most of their shipping capacity to South American routes, resulting in a shortage of space in Europe. In addition, it is now necessary to detour to the Mediterranean and Red Sea in Europe, and many containers cannot be returned, exacerbating the space shortage.