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Huge increase in sea freight tariffs announced

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Huge increase in sea freight tariffs announced

The shipping industry is currently going through hard times and is struggling to survive. Multiple shipping companies have already gotten into serious trouble.

Significant rate increases have been announced for all sea freight going Westbound from the Far East. These will be valid from July 1st. General Rate increases have been announced before, but were usually only partly carried through or sometimes not at all. This time though, it seems the rates need to be adjusted to reasonable levels in order for shipping companies to survive. For the first time ever, we are even seeing existing long-term contracts being renegotiated to a higher level.

This unique situation has huge consequences. Not only the short term (monthly) tariffs are affected, but the long term rates (on a quarterly, seasonally or yearly basis) as well.

At the moment, everyone is busy negotiating terms to find a suitable solution. Once the exact terms are disclosed, we will inform you immediately about the outcomes and options. As this is a unique situation for all parties, you can understand that it will be difficult to give you the precise numbers any time soon. Of course you will hear from us as soon as we know the exact tariffs.

 

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