Breaking News: Major Surge in Container Freight Rates from Asia to South America West Coast Expected in November – MercoPress

Container Freight Rates Set to Increase from Asia to South America West Coast

Prepare for an upcoming price hike in container freight rates from Asia to the West Coast of South America, Mexico, Central America, and the Caribbean. German container line Hapag-Lloyd will implement a General Rate Increase (GRI) starting November 1st, raising costs by US$2,000 for shipments utilizing various container types.

Here are some key points to consider regarding this impending rate change:

• The GRI will affect shipments using 20-foot and 40-foot dry containers, as well as high cube containers and 40-foot non-operative reefers.
• The increase will be in effect indefinitely until further notice, impacting trade routes from countries such as China, Macau, Taiwan, Japan, and many others to destinations on the South American Pacific rim, Mexico, Central America, and the Caribbean.
• In Dalian, China, new shipping routes to South America have recently been established, streamlining trade connections and enhancing shipping capabilities. Dalian’s port plays a vital role in importing fruits, with bananas from countries like Ecuador constituting a significant portion of the cargo volume.
• The new container ocean line to South America boosts trade by facilitating the transportation of various goods, reducing transit times, and solidifying Dalian Port’s position as a key international shipping hub in Northeast Asia.
• Efforts to expand sea routes and maritime logistics are underway to further support economic development and strengthen trade ties between China and South American nations. China’s trade relations with Latin American countries have grown substantially, with increased trade volumes and free trade agreements in place with countries like Chile and Ecuador.

As the container freight rates are set to rise, businesses and traders involved in trade between Asia and South America must prepare for potential cost increases. Stay informed about the changing landscape of container shipping to navigate these adjustments effectively and maintain smooth trade operations.