Recently, the globalshippingThe industry is once again facing a surge in shipping charges and additional charges. Several mainstream shipping companies, including Hapag-Lloyd, Mediterranean Shipping Company (MSC), Dafa Shipping (CMA CGM), South KoreaThe Maritime(HMM) and Wuhan Shipping have both announced the increase of the GRI (Integral Rate Rise) and the FAK (Free Loading Rate) rates from April 1 to May 1 this year, and additional charges.

Adjustment of Herbert Shipping Rates

Hapag-Lloyd announced that, effective from April 1, 2024, it will increase the FAK rates for shipments between the Far East and Northern Europe as well as the Mediterranean. This rate adjustment will apply to 20-foot and 40-foot dry containers, including high cubes and reefer containers. Additionally, Hapag-Lloyd will implement a new GRI for 20-foot and 40-foot dry cargo from Asia to the West Coast of Latin America, Mexico, the Caribbean, Central America, and the East Coast of Latin America, as well as for 40-foot high cube and 40-foot dry reefer cargo. The company has imposed a rate increase of $1,000 for 20' dry containers, 40' dry containers, 40' high cubes, and 40' dry reefers.

The shipping.Adjustment of rates

As of April 1, Air France has adjusted the FAK tariffs for Asia-Northern Europe and Asia-Mediterranean North Africa, adjusting the tariff for a 20-foot container to $2100 and a 40-foot cabinet (including high cabinets and refrigerators) to $3800.

Adjustment of MSC rates

MSC has announced the latest shipping rates for all new reservations from Northern Europe (including the coast of the UK and the Baltic), the Mediterranean region (including the western Mediterranean, the Adriatic, the eastern Mediterranean, Greece and Turkey) and all ports in the Black Sea to the Gulf of the Far East and the Middle East, effective from April 8.

Shipping charges rise.

Starting on May 1, 2024, Korean Shipping will implement a new GRI for all services that originally go to the United States, Canada and Mexico, adding $500 to 20-foot containers and $1,000 to 40-foot containers.

The sea shipping rate increases

Wuhan Shipping has increased the price of freight shipping for exports to Asia (near ocean) across China, starting from the 15th week, the small cabin increased by $ 50 and the large cabin increased by $ 100.

Market Reaction and Analysis

From the above pricing information can be seen, the shipping prices of each ship company are increased, and there are many types of additional charges, which involve the Far East to Europe, America, the Middle East, Latin America and other major routes, with no exception.

This increase in shipping charges and additional charges is an important signal for the global trade and logistics industry, indicating that in the context of rising operating costs, shipping companies are trying to ease the pressure by raising rates.

For both importers and exporters, this means that increased transportation costs may be transferred to commodity prices, thereby affecting final consumers, while rising shipping costs may also increase global trade uncertainty, especially in the current global economic recovery process, with rising shipping costs affecting the global trade recovery.

Industry sources also pointed out that recent export orders are weak, trade growth is weak, coupled with increased uncertainty about the global economic prospects, and a price hike may further impact market demand, which is detrimental to the development of the shipping industry.