International ocean freight hits a ten-year high
2021-08-18 12:03:09 [Print]
The international ocean freight recently hit a ten-year high. On August 10, 2021, the World Container Index showed that the freight from China and South-East Asia to the east coast of North America exceeded $20,000 per container for the first time. The Baltic Dry Index rose 93 points or about 3% to 3,503 points on August 12, the highest level since the middle of 2010. The significant increase in freight made the proportion of logistics cost of export-oriented and low-value products of some small shippers (mainly private enterprises) rise from 5% to over 30%, which led to malignant accumulation of stocks. The apportionment of freight also imposed pressure on the gross profit rate, causing obvious negative impact.
Generally, winter is the peak season for shipping, so the freight pressure would not weaken in winter, which might aggravate the impact to products of high correlation with freight. Small shippers, low value and export-oriented products should get more attention.
Generally, winter is the peak season for shipping, so the freight pressure would not weaken in winter, which might aggravate the impact to products of high correlation with freight. Small shippers, low value and export-oriented products should get more attention.
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