08. May 2020

Shortage of cargo space is leading to increasing rates

The extensive blank sailing programmes of ocean carriers in recent months are causing major problems for North European exporters to Asia. Rates are skyrocketing on the route as space becomes tight. Short-term 40ft container rates from North Europe have increased double from January, as shippers fight for space on the few export vessels with port calls changing daily. Possibly, a large number of Asia-bound containers might be rolled over at European ports.

The high demand on the eastbound route has led to some carriers announcing an Emergency Space Surcharge in a range between $ 100 – 300 $ to come into effect from the middle of May.