Rising ocean freight rates

Recently, the shipping market has been experiencing a wave of price increases during the off-season. Leading shipping companies such as MSK, CMA CGM, and HPL have issued price increase letters, with some routes experiencing a nearly 70% increase. The range of price adjustment routes is mainly concentrated in the United States, South America, Red Sea, and other directions.

In the past, container freight rates generally increased in March and April. The current increase, in addition to the regular quarterly price adjustments, is also partly due to increasing bargaining chips for future signing. 

According to the analysis of Hainan West Asia Group, we believe that the current export consolidation index is still fluctuating upwards, but in the long run, there is a lack of momentum for a significant increase in freight rates. In the past two weeks, the market has shown a clear downward trend in performance.