Rate Developments of Import Ocean Freight from Asia

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Rate Developments of Import Ocean Freight from Asia

The rates for sea containers from China and South East Asia are now reaching unprecedented heights and space remains tight. Currently in Asia, it is very difficult to find any available equipment. Additionally, several ships are in quarantine due to Coronavirus outbreaks on board.

Last week we already announced that the rates have tripled in 2 months, this is now outdated, the rates are now going to never seen before levels of USD 5,000.00 - USD 6,000.00 per 40ft container and more.

One of the biggest challenges at the moment is that the shipping companies often no longer honor existing contracts and space agreements, ship space is simply sold to the highest bidder, creating a very uncertain and unacceptable situation.

We are of course in discussion with the various shipping companies as well as our partners in Asia to limit the consequences of this development for our customers as much as possible, but we will also have to deal with this unusual situation.

Unfortunately, we currently have no other choice than to cancel all existing rate agreements with our customers. We will agree on case by case rates and space and we will keep you informed of any further developments.

 

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