Ocean Container Rates to Increase
September 25, 2006 by Splatty
Filed under Seafreight
According to an article on Bloomberg.com we can expect ocean rates to rise next year.
Hapag-Lloyd AG, Evergreen Marine Corp. and nine other shipping lines plan to raise rates for ocean containers from Asia to the U.S. next year to offset rising fuel costs and other charges.
Cargo moved to the U.S. West Coast from Asia will rise by $300 per 40-foot container next year, according to plans by the 11-member Transpacific Stabilization Agreement. Goods shipped to the East Coast through the Panama or Suez Canals will increase by $500 a box, the group said in an e-mailed statement today.
A.P. Moeller-Maersk A/S, Evergreen and other sea carriers are struggling to increase fees they charge for moving cargo as a record number of new vessels are scheduled to be delivered this year. Rising costs for inland transportation, fuel and other expenses are crimping their profits, boosted in the last five years by higher freight rates due to expanded global trade.
Look for the peak season surcharge to last longer than usual as well.
The shipping lines will extend their current peak-season surcharge, at $400 per container, through Feb. 28, 2007, as vessels will likely operate at full capacity for the rest of this year and because of the widening imbalance in the cargo movement on the trans-Pacific trade lane, the group said.
So much for the opinion that ocean rates would decrease with the increased capacity of the new “monster” vessels that are coming online.
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