Recently, Dafeisteel announced that it would suspend the increase in spot freight worldwide in the next five months. Soon, the world's largest shipping company Maersk, the fifth largest shipping company Hapag-Lloyd, and ONE Marine Network Shipping, which ranks sixth, also expressed their commitment to further increase the market spot freight in the next few months and temporarily maintain the current freight level.
Since 2021, due to the serious imbalance of port congestion, demand and the effective capacity of sea containers, spot freight rates for container transportation have continued to rise. The Drewry World container index shows that the cost of shipping a 40-foot container from Shanghai to Los Angeles has reached US$11,569 recently, almost 8 times the pre-epidemic level.
It is reported that the world's nine major shipping companies, including Maersk, Dafei, COSCO, Hapag-Lloyd, Evergreen Shipping, HMM, Yangming Shipping, Wanhai Shipping and Yixing Shipping, had a total revenue of more than 100 billion US dollars in the first half of the year, and the total net profit in the first half of the year was far greater than the total net profit last year!
Of course, while major companies are proposing to suspend price increases, shipping companies have also revealed that they hope to sign longer-term cooperation with customers. It should be noted that if the shipper agrees to sign a long-term contract with a higher freight rate, the freight rate will also remain at a high freight rate level for a certain period of time.
Compared with shipping companies that have made a lot of money, many foreign trade merchants and manufacturers are unable to bear the pressure to give up or reduce orders. Many sellers say that the shipping fee is getting higher and higher, and basically one purchase will lose as much as you send. The current suspension of shipping costs is undoubtedly good news for cross-border sellers. After all, for many merchants, the decline in traffic in stores due to the decline in stock stores, it is not worth it. Regardless of the future, we look forward to more shipping companies releasing price increases in the future.
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