The Red Sea is tense and shipping prices are skyrocketing

December 26, 2023

The Red Sea is tense and shipping prices are skyrocketing

 Original KJ123 KJ123 cross-border e-commerce 2023-12-25 11:39, published in Fujian province


KJ 123 learned that due to the deteriorating shipping security situation in the Red Sea, more and more shipping companies announced the suspension of the Red Sea route, and chose to bypass the Cape of Good Hope. Affected by this, the spot market transport capacity changes led to the rapid rise in short-term freight rates. On December 22, the Shanghai Shipping Exchange released the latest export container freight index of Shanghai (SCFI) at 12 54.99 points, up 14.8% from last week, among which the SCFI European line was at 1497 US dollars / TEU, up 45.5% from last week. Last week, the Shanghai International Energy Exchange listed container transportation index (European line) futures main contract EC2404 rose 56.2% a week.

 In addition, in January 2024, freight rates from China to the UK reportedly reached $10,000 for every 40 feet. At the same time, the big ship companies announced that they would impose various surcharges:

1. Maersk: It will impose a transport disruption surcharge on 27 routes from July 21, and will add another surcharge on those routes from next year.

2. Delta Ship: Surcharge on 11 routes starting from January 21; PSS for Asia to Mediterranean and North Africa routes starting from January 1 next year.

3. Herberot: Additional freight charges starting from the 22nd. From 1 January 2024, collect $500 per case from the Far East to Europe.

According to shipping experts, container ships entering Northern Europe will be delayed by only a week and a half, or about a week to the east coast of the United States.

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