Another wave of price increases came in November

Since the end of October, many voyages have been saturated, this phenomenon covers almost all routes, especially routes to the United States, and the tight situation is expected to continue into November.

According to industry insiders, the main reasons for the shortage of shipping space include shippers in order to hurry up shipments before shipping companies raise prices, advance consideration of the possible impact of the US election results, and changes in the shipping habits of Chinese shippers.

In November, a new round of freight increases will be ushered in, and a number of shipping companies have issued notices involving peak season surcharges and FAK rates:

Maersk MSK

From November 4, 2024, Maersk will impose a peak season surcharge of PSS from the Far East to India, Pakistan, Sri Lanka and Maldives, at $1,000 for 20-foot cabinets and $1,500 for 40 and 45-foot tall cabinets.

Hapag-lloyd HPL

Hapag-lloyd will impose a peak season surcharge (PSS) of US $1,000 per TEU for shipments from Asia to Banjul, Gambia, effective November 1, 2024. This surcharge applies to all flights on and after 1 November 2024 until further notice.

Shipping ZIM by star

In light of current market conditions, ZIM will update its Peak Season surcharge (PIS) from the Far East to Eastern Mediterranean and Western Mediterranean (including Black Sea and Northern European ports) effective November 1, 2024 until further notice:

Hanshin Marine HMM

Hanshin Shipping (HMM) has announced the implementation of a new weight or Volume charge (FAK) rate for shipments from Asia to Europe and the Mediterranean region effective November 1, 2024, which will continue until further notice.

The dynamic changes in the shipping market and the increase in the company's operating costs have prompted the price adjustment. Therefore, the shippers and freight forwarders need to pay close attention to the notices and announcements of the shipping company to ensure that the shipment plan and logistics arrangements can be adjusted in a timely manner.