Asia-US Sea Freight Cost Increase by 20%

Author Name: Emma Hau – Marketing Analyst at FreightAmigo | 20/4/2022

Sea freight can increase up to 20% starting from May 1, 2022 since carriers have announced a General Rate Increase (GRI) for cargo from Asia to The United States. Carriers are charging an increase of 1000 to 2000 USD per 40’ container (FEU) for Asia-US sea freight, an increase of 10 to 20%.

Sea freight rate for Asia-US is adjusted as follows:

ONE and ZIM are charging additional 1000 USD for each 40’ container; Evergreen, HMM, YangMing are charging additional 1000 to 2000 USD for each 40’ container.

Due to lockdown measures in Shanghai, operation at port is severely disrupted. The latest SCFI index is 4228.65. Although the index falls by 0.82% only, it has already been decreasing for 13 consecutive weeks. However, since cargo demand never drop, carriers increase Asia-US sea freight cost. Therefore, the market is expecting higher revenue in second quarter than the last quarter.

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