Container Shipping Rates

Discussion in 'International Business' started by OMGVape, Feb 1, 2021.

  1. OMGVape

    OMGVape Contributor

    581 75
    Hesitated with my booking last week.

    It's now gone up by $700 in 5 days :-(
     
    Posted: Jul 21, 2021 By: OMGVape Member since: Jan 21, 2018
  2. AlanJ1

    AlanJ1 Contributor

    210 34
    Going to keep going up, book it before end of the month before 1st Aug prices hit.

    Looking at 2o-23k for a 40ft right now. Absolutely criminal.
     
    Posted: Jul 21, 2021 By: AlanJ1 Member since: Jul 25, 2018
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  3. Washington

    Washington UKBF Newcomer

    26 2
    I work with a factory in China, our customers buy fob and it is a nightmare. We were quoted FAK rates yesterday of $18k for 40ft H/C and that is IF they can get the equipment. We have customers with contracts at $8k but they are not moving anything as the shipping lines are

    My advice if you need the stock is to take the price and ship because presently the prices are only going one way and if you hesitate the price will go up

    We've lived in such anti inflationary times for so long, it is about to stop. Don't be frightened to tell customers the price is going up if they want their products as the container prices look unlikely to drop until after CNY 2022....or of course they can wait !
     
    Posted: Jul 21, 2021 By: Washington Member since: Aug 29, 2008
  4. AlanJ1

    AlanJ1 Contributor

    210 34
    Exactly what we have just done, B2B pricing increase.
     
    Posted: Jul 21, 2021 By: AlanJ1 Member since: Jul 25, 2018
  5. FaaF

    FaaF UKBF Newcomer

    28 0
    Looks like the August increase in shipping rates is as significant as most of the prior increases. Will it ever end?
     
    Posted: Aug 4, 2021 By: FaaF Member since: Jan 17, 2021
  6. Washington

    Washington UKBF Newcomer

    26 2
    What are you being quoted ? I am seeing $18k
     
    Posted: Aug 4, 2021 By: Washington Member since: Aug 29, 2008
  7. FaaF

    FaaF UKBF Newcomer

    28 0
    I'm getting $16k'ish quotes (no final quote yet). But this is for Shipper Owned Containers and to Ireland - so $18k sounds about right.
     
    Posted: Aug 4, 2021 By: FaaF Member since: Jan 17, 2021
  8. Washington

    Washington UKBF Newcomer

    26 2
    We have a contract at $8K but basically, it is not being honoured, but I think we are no different to most others

    Good luck !!
     
    Posted: Aug 4, 2021 By: Washington Member since: Aug 29, 2008
  9. FaaF

    FaaF UKBF Newcomer

    28 0
    It's ridiculous. I wonder how things would work next year if you locked into a contract at $16k and tried to get out of it to ship at $6k instead.
     
    Posted: Aug 4, 2021 By: FaaF Member since: Jan 17, 2021
  10. Washington

    Washington UKBF Newcomer

    26 2
    The shipping companies have no honour, I think we know that now. My guess is they would have you in court....Will contracts have a value in the future, who knows !

    Any loyalty a customer will have had previously has gone out of the window
     
    Posted: Aug 4, 2021 By: Washington Member since: Aug 29, 2008
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  11. Chris Ashdown

    Chris Ashdown Contributor

    12,353 2,590
    Few things ever go down in price once the seller knows the price you are willing to pay and i guess the same will apply to shipping rates if you prove you are willing to pay todays rate why should they lower it later.

    Yes in the long term new competitors may come on the market but still use the base price to pay for the new ships,

    This post is about shipping by sea but I bet the airlines freight rate have also gone up substantially

    May be the biggest killer of Far East imports and bring manufacturing back to Europe
     
    Posted: Aug 4, 2021 By: Chris Ashdown Member since: Dec 7, 2003
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  12. OMGVape

    OMGVape Contributor

    581 75
    but not everyone is willing to pay it. Factories all over China are loosing orders and many have stock ready to ship but the buyers just can’t/won’t pay the shipping costs.
    It will start hurting China’s economy before long, that’s when the shipping companies will feel pressure to stop being greedy. (Mmm, unless China are in on it ? )
     
    Posted: Aug 5, 2021 By: OMGVape Member since: Jan 21, 2018
    • Useful Useful x 1
  13. WaveJumper

    WaveJumper Contributor

    2,070 530
    As above just seeing news feeds saying rates now over $20,000 container seems like there's no sign of it stopping either
     
    Posted: Aug 5, 2021 By: WaveJumper Member since: Aug 26, 2013
  14. Red Wood

    Red Wood Contributor

    680 76
    I've read that until new capacity comes online from the vessel shopping spree the big carriers have been spending their extreme profits on, acceptable rates aren't likely until end of 2022 earliest.

    Personally, I can't see a world where a 40ftHC are sub $2000 FOB>Door again.
     
    Posted: Aug 9, 2021 By: Red Wood Member since: Jan 14, 2014
  15. FaaF

    FaaF UKBF Newcomer

    28 0
    Finally, some bad news for the shipping of containers from China. A positive Covid case in Ningbo resulting in the third largest container port in the world turning away ships....
     
    Posted: Aug 11, 2021 By: FaaF Member since: Jan 17, 2021
  16. OMGVape

    OMGVape Contributor

    581 75
    Phew! Luckily my current order is out of Xingang.
     
    Posted: Aug 11, 2021 By: OMGVape Member since: Jan 21, 2018
  17. Red Wood

    Red Wood Contributor

    680 76
    Can't they keep the disruption to the southern ports! Ningbo has always been reliable... Until now it seems
     
    Posted: Aug 11, 2021 By: Red Wood Member since: Jan 14, 2014
  18. John Hemming

    John Hemming Full Member
    Contributor

    863 189
    I have seen reports the issue is congestion rather than increased demand.
     
    Posted: Aug 12, 2021 By: John Hemming Member since: May 23, 2019
  19. japancool

    japancool Contributor

    5,061 1,156
    Posted: Aug 13, 2021 By: japancool Member since: Jul 11, 2013
  20. Washington

    Washington UKBF Newcomer

    26 2
    Could be good news for Yantian port

    Yantian suffered badly with capacity because of Covid and ships avoided it....now if Ningbo is closed they may find some ships with more capacity heading to Yantian (which is normally one of the last ports visited by containerships before heading out of China)

    Bad news for some....good news for others !
     
    Posted: Aug 13, 2021 By: Washington Member since: Aug 29, 2008