Shipping season is coming, how will the freight change？

Just in July, some well-known shipping companies began to announce increase freight on August 1, one 40GP increase of $2,000. Recently, many shipping companies have leased ships at high prices, which seem to be optimistic expectation for the market; But new ships operate, capacity increases and smaller companies move into ocean routes, how much can freight actually rise? We'll wait and see!

A number of well-known shipping companies, including Yang Ming Marine Transport and ZIM Shipping, issued a notice to client on July 2, from August 1, the container cargo sent from the Far East to North America will be charged GRI (general Rate Increase). Specifically, the additional charge of $1,800 per 20GP standard container (TEU) and $2,000 per 40'HQ (FEU) marks a further expansion of the freight increase, reflecting the shipping industry's optimistic outlook for the maritime market in the third quarter.

The forwarder analysis that in view of the United States West freight has more ships and new route, freight may appear loose. The United States East route is facing higher upward pressure. As for whether August can successfully achieve an increase of $2,000 per 40HQ, it needs to wait for further verification.

The shipping company stressed that the actual increase will be adjusted according to market dynamics, will not be limited to the reported price. On the one hand, the crisis situation in the Red Sea region has not significantly eased, continuing to pressure on global shipping. On the other hand, the recovery of economic activity in Europe and the United States prompted the recovery of consumer demand, coupled with the impact of the United States and other countries on imported goods, retailers have increased inventories in advance to cope with potential market fluctuations, directly promoting the growth of Asian export freight. It may further exacerbate the continued rise in short-term freight. However, according to the current market feedback, some low-value goods have been abandoned cost reasons,  a large forwarding believes that in view of the sharp rise in freight of the United States East Line and the add of ships, if there is not enough cargo support, freight may fall quickly.