Shipping costs increased in November

According to a recent report by Transport Intelligence, major shipping companies will significantly increase their freight rates on key East-West trade routes in November and December.

In particular, CMA CGM recently announced new tariffs for all types of freight transportation (FAK) from the Far East to Northern Europe. The DHL’s November market report indicated that Hapag-Lloyd’s latest FAK rates of $1,800 per FEU for Asia and Northern Europe, published on November 1, will have a noticeable impact on shipping.

However, spot rates for Asia and Northern Europe remained unchanged in November, averaging around $1,000 per FEU, according to Transport Intelligence.

At the same time, the Drewry WCI composite index increased by 12% over 43–44 calendar weeks: the cost of shipping a 40-foot container to European ports rose in price by more than a quarter. The subindex for shipping from Shanghai to Rotterdam was almost 1.3 thousand dollars per FEU at the beginning of November.