Many shipping companies announced freight rate increases, with rapid increases in May.


Many shipping companies announced freight rate increases, with rapid increases in May.

     The latest Shanghai Containerized Export Freight Index (SCFI) was released on the 19th. The current freight index rose 12.5 points to 1769.54 points, 

a weekly increase of 0.7%, achieving three consecutive increases. In terms of route performance, freight rates on the European route were stable and

 basically flat, while the Mediterranean route increased slightly; while the Far East to North America route showed a slight decrease. It is worth noting 

that the freight rates on the route from the Far East to South America continue to soar, with an increase of as much as 14%, and an increase of more 

than a thousand US dollars in two weeks. This highlights the tight supply of ships in the current market, causing some shipping capacity to be transferred

 to other routes.

    In May, container freight rates once again showed an upward trend, and world-renowned shipping companies have announced price increase plans.

 Eight shipping companies, including Evergreen Marine Corp., have said they will impose a general rate surcharge (GRI). Among them, six companies 

including Evergreen and CMA CGM are expected to charge a surcharge of US$2,000 per 40-foot container starting from May 1, while ONE and Yang Ming 

have chosen to charge an additional US$1,000.

     At present, the European and American routes in the container shipping industry successfully realized this big price increase on May 1, and the shipping

 company has notified that it will increase the freight rate again on May 15. It is expected that each large box will increase by about US$1,000. This price

 increase has brought the freight rate on the European route close to the US$5,000 mark, while the US-Western route is expected to exceed US$5,000 in

 one fell swoop.

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