The surge in spot freight rates along the Far East route is exerting notable effects on the hose clamp industry.
Numerous liner companies have once again implemented General Rate Increases (GRI), leading to significant spikes in container shipping prices across the three major export routes in the Far East.
Since late July, the freight rate for the Far East to Northern Europe route has witnessed a sharp escalation, soaring from below $1,500 per FEU (forty-foot equivalent unit) to an astounding $500 increase, marking a 39.6% surge. This remarkable rise has notably narrowed the price disparity between this route and the Far East to Mediterranean route, with the spread now at a mere $670, the narrowest margin observed this year.
Simultaneously, the freight rate for the Far East to US West route has been steadily climbing in recent months. From July 1st to August 1st alone, it surged by a staggering $470, representing an impressive 51.5% increase in average spot rates.
As dedicated trade exporters, Dinsen remains vigilant in monitoring shipping developments. Our company’s top-selling products currently include a range of hose clamps, such as worm drive hose clamps, worm gear clips, exhaust pipe clamps, hose clamps, and flexible wide band exhaust clamps. Feel free to reach out to us for consultation or inquiries at any time.
Post time: Aug-18-2023