Recently, the situation in the Bab el-Mandeb Strait and the Red Sea has been escalating, which continues to have a significant impact on global shipping.
With the continuous implementation of the response plans and strategies of shipping companies, the increase in the cost of ships detouring the Cape of Good Hope will continue to promote the freight rates of European routes and Mediterranean routes**.
Source: CCTV News Invaded and deleted.
According to the data released by the Shanghai Shipping Exchange, the latest market freight rate (ocean freight and ocean freight surcharge) exported from Shanghai Port to European basic ports was US$1,029 TEU, which was 11 US dollars higher than that of the previous period2%。
The market of the Mediterranean route is basically synchronized with the European route, and the spot market booking is significantly larger. The market freight rate (ocean freight and ocean freight surcharge) for exports from Shanghai port to the basic port of the Mediterranean is 1569 US dollars TEU, which is 13 US dollars compared with the previous period1%。
Source: Shanghai Shipping Exchange Invasion and deletion.
Due to the turmoil in the Red Sea, the SCFI index hit a 12-month high a few days ago, and the available capacity will be further reduced in the short term, and the short-term freight rate will continue in the coming weeks**, and this momentum is expected to continue until the end of January.
Recently, the freight rate ** signal has appeared, a number of freight forwarding companies said that they have received a number of shipping companies to update the spot market freight report, early January next year for a number of European routes and Mediterranean routes of the freight rate.
Hapag-Lloyd has announced a peak season surcharge (PSS) of $500 TEU from the Far East to Northern Europe and the Mediterranean (including Oceania) from January 1, 2024 until further notice.
Source: Hapag-Lloyd's official website Invasion and deletion.
Previously, CMA CGM issued a notice to increase the FAK rate from Asia (including Japan, Southeast Asia and Bangladesh) to Northern Europe (including the United Kingdom and Portugal to Finland and Estonia) from January 1, 2024 (cargo loading date) until further notice.
This includes dry containers, special containers (OOG), paid empty containers and reefers. $1,600 per 20ft dry container and $3,000 per 40ft dry high cube reefer.
Source: CMA CGM official website Invasion and deletion.
Maersk also previously announced an increase in FAK rates from the Far East to the Mediterranean and the Far East to Northern Europe from January 1, 2024. Details are as follows:Far East to the Mediterranean
Source: Maersk's official website Invaded and deleted.
Far East to Northern Europe
Source: Maersk official website ZIM Shipping, a shipping company from Israel, also announced an announcement on freight rate adjustments, deciding to raise the FAK from Asia and the Indian subcontinent to the Mediterranean and Black Sea ports, as follows:
Source: China Shipping Weekly Invasion and deletion.
Due to the continued impact of geopolitical conflicts in the Red Sea region, it is believed that the shipping companies may continue to announce more freight rate adjustment measures in the near future.
In the face of ever-changing sea freight rates, freight forwarders can log in to the search network, enter the port of departure and destination, and check the freight information of each port on the European and Mediterranean routes at any time. 
Freight rate query Source: Souhang.com
Due to the fact that some shipping companies have stopped booking on relevant routes in the Red Sea, and the peak shipping season before the Chinese New Year, when people in recent generations book space on European routes and Mediterranean routes, they may present a situation of expensive freight, slow timeliness and difficult booking in the short term.
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