Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

You are using software which is blocking our advertisements (adblocker).

As we provide the news for free, we are relying on revenues from our banners. So please disable your adblocker and reload the page to continue using this site.
Thanks!

Click here for a guide on disabling your adblocker.

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

Chinese exporters adapt to rising shipping costs

Recent adjustments in container transportation fees by global shipping entities like CMA CGM Group, Hapag-Lloyd AG, and Maersk Line have led to significant rate hikes, affecting routes connecting Asia with various global regions. For instance, CMA CGM has set new rates for containers on the Asia to North Europe route, with a 20-foot equivalent unit (TEU) priced at $2,700 and a 40-foot container (FEU) at $5,000, marking increases from earlier rates. Similarly, Maersk introduced a peak season surcharge for Asia to South America, Central America, and the Caribbean routes.

In response, Chinese exporters are adapting their shipping strategies amid a surge in global market demand and geopolitical shifts. Companies like Rollmax Shutter Component Co Ltd are delaying shipments due to a spike in ocean freight costs and the difficulty in securing container space. Alternatives such as cargo freight and the China-Europe freight train services are being considered to manage costs.

Exporters are also adjusting their operational strategies, opting for slower conventional ships and planning shipments well in advance to cut expenses. The anticipation of trade policy uncertainties, especially with the U.S. general election, and the expected rise in shipping demand during the peak season are influencing these adaptations. Supply-side factors, including re-routing around the Cape of Good Hope due to tensions in the Red Sea region, are contributing to the increased costs and extended shipping times.

Source: ecns.cn

Publication date: