$32,000 container move from China to LA

Crazy! US line freight rate exceeds 32,000 US dollars per container! United States of America issued a temporary plan to regulate shipping market.

Freightos Baltic Daily Index adjusted its method of tracking shipping rates, including various premium surcharges required for booking for the first time, greatly improving the transparency of the actual cost paid by the cargo owner. According to the adjusted index:

The freight rate Asia to West America is $18,345/FEU, six times higher than a year ago;
Asia to East Coast of America freight rate quadrupled to $19,620/FEU.

Asia to North of Europe freight rate rose 4% from last week, more than eight times that of a year ago and more than 2.5 times that of the beginning of the year.

Someone calculated for shipping company. The price of a 4000TEU container vessel is about US $21 million. The profit from a full load voyage on the US east route is about US $20 million, which is equivalent to earn money from one shipment on a trip.

MCS, an American furniture manufacturer, has filed a complaint with the Federal Maritime Commission of the United States that two shipping companies such as Mediterranean Shipping did not comply with the service contract signed by both parties, forcing shippers to accept the soaring spot rate, which is suspected of violating the U.S. shipping law of 1984 for huge profits. In addition, it is also alleged that in terms of the sharp rise in freight rates, shipping companies are suspected of creating the illusion of scarce shipping space by reducing shipment, so as to facilitate the increase in freight rates and damage the rights and interests of shippers and the public.

At present, about 80 vessels are berthing at the anchorage of the ports along the three major coastlines of the United States (West, East and Gulf of Mexico), including Los Angeles, Seattle, Savannah port and Houston. The American Retail Federation expects imports from U.S. ports to surge in August early in the traditional peak season. This also indicates that the freight rate will rise further in the coming weeks.

At the end of March this year, the Ever Given, which blocked the Suez Canal for six days, finally arrived at Rotterdam port in the Netherlands on July 29 and unloaded 18,300 containers. Its next trip is to transfer some of the goods destined for Hamburg Port to the "Ever Utility" vessel, and then skip Hamburg Port. It is planned to arrive at Felixtor port in the UK on August 8 for unloading and transporting the remaining containers in the UK. Finally, the vessel will go to a Dunkirk,France for inspection.