The spot rates in Europe have surged by 230 percent compared with the same period last year, after a sharp rise initially due to the outbreak lagging the Pan-Pacific region.

 

At present, the freight quotation from Asia to Europe has exceeded $10,000 /40 feet high container.

Towards the end of the year, European market volumes remain high.The recurrence of the epidemic has also stimulated local import demand growth, and the demand for transport between Asia and Europe's Mediterranean is strong.The containers shortage has also affected European routes, with strong market demand and severe equipment shortages expected to continue beyond the Spring Festival in 2021.

At present, due to the severe epidemic situation in Europe, Germany has taken "mandatory measures" to close down the city. Coupled with numerous uncertainties such as brexit, major ports in the UK are severely congested, cargo volume of European ports has plummeted, and shipping companies have jumped to their ports. Please pay attention to the recent shipment to Europe.

Freight forwarders are feeling over $10000 freight rates of hot Asia-Europe route market.

 

According to the freight agent, shippers are postponing or cancelling shipments pending a certain adjustment in freight rates due to a year-on-year increase of at least 5 times and the total freight rates for some shipments have exceeded US $10,000 /FEU.

 

Liner ship operators have cut UK import quotas to ease congestion at UK ports amid capacity constraints and congestion at major container ports in the UK and China.

However, booking space severely exceeded the remaining quota, resulting in severe backlogs at busy Chinese ports including Yantian, Ningbo, Shanghai and Qingdao.

Hapag-Lloyd announced increase rates from Asia to Northern Europe and the Mediterranean

Hapag-Lloyd has announced new prices from Asia to Europe and the Mediterranean, effective January 1, 2021.