During the Christmas shipping season, shipping costs may continue to rise in December!
According to the latest report released by Linerlytica recently, Asia-Europe freight rates are likely to continue to rise throughout December as shippers rush out cargo before Christmas.
According to the latest Shanghai Container Freight Index, freight rates from Asia to Northern Europe rose by 9% to US$925/TEU, while freight rates from Asia to the Mediterranean rose by 10% to US$1,387/TEU, rising for the second consecutive week.
Meanwhile, return sailings on the Asia-Europe route and the diversion of the Panama Canal are mitigating the impact of this year’s record 2.2 million TEU new ship deliveries.
The Asia to U.S. East Coast route edged down $5 to $2,441/FEU, while the Asia to U.S. West Coast route rose just $23 to $1,669/FEU, although transit quotas through the Panama Canal have forced some Asia to U.S. East Coast routes to Diversion to Suez or around the Cape of Good Hope.
Linerlytica said: “Shipping lines are paying a heavy price to avoid long delays on the canal due to their failure to obtain priority lanes. Although the draft limits the full container throughput of the Panama channel, East Coast capacity is still sufficient to meet market demand. .”