Ocean shipping rates from Asia to Europe shot up ahead of this week\u2019s June 1 freight-all-kinds (FAK) increases by carriers, with the substantial price hikes supported by mounting delays at severely congested port hubs at both ends of the trade lane.<\/p>\n
While port bottlenecks absorb capacity on Asia-Europe, surging demand on the trans-Pacific is prompting carriers to shift vessels to the booming China-US trade lane, putting further upward pressure on Asia-Europe rates.<\/p>\n
\u201cCarriers are redeploying ships from Asia-Europe and other routes to the trans-Pacific routes, with the capacity in Asia-Europe dropping 17% in the week starting June 16 vs. the end of May,\u201d HSBC noted in its weekly transportation update.<\/p>\n
\u201cHowever, we think these are insufficient to address the cargo rush [on the trans-Pacific], while capacity reallocation could cause shortages in other corridors,\u201d according to the bank\u2019s analysts.<\/p>\n
Drewry highlighted in a recent market update that since late March, labor shortages and low Rhine River water levels have pushed up berth waiting times by 37% in Antwerp, 49% in Hamburg and 77% in Bremerhaven.<\/p>\n
In Asia, Shanghai and Singapore, the world\u2019s busiest and second-busiest ports, respectively, are battling congestion driven by a rush of exports to the US during a 90-day tariff cooldown.<\/p>\n
Rate hikes, surcharges<\/p>\n
As capacity tightens, carriers are rolling out significant rate increases from Asia to both North Europe and the Mediterranean, as well as implementing \u201cpeak season surcharges\u201d on some Mediterranean routes.<\/p>\n
Source: JOC<\/p>\n","protected":false},"excerpt":{"rendered":"
Ocean shipping rates from Asia to Europe shot up ahead of this week\u2019s June 1 freight-all-kinds (FAK) increases by carriers, with the substantial price hikes supported by mounting delays at severely congested port hubs at both ends of the trade lane. While port bottlenecks absorb capacity on Asia-Europe, surging demand on the trans-Pacific is prompting …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[78],"tags":[90,84],"class_list":["post-3243","post","type-post","status-publish","format-standard","hentry","category-news","tag-international-ports","tag-maritime"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/3243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/comments?post=3243"}],"version-history":[{"count":1,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/3243\/revisions"}],"predecessor-version":[{"id":3244,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/3243\/revisions\/3244"}],"wp:attachment":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/media?parent=3243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/categories?post=3243"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/tags?post=3243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}