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INDURA
We want to keep you informed about the latest developments in the freight market that could impact our operations and your costs.
Freight rates have seen a dramatic increase in Q2 2024, significantly impacting logistics and costs.
Here are the key factors:
Container freight rates from Asia to Europe surged by approximately 6% in June 2024, reaching about $3,550 per forty-foot equivalent unit (FEU). This increase is driven by heightened demand and limited shipping capacity, leading to significant price hikes.
Significant delays at ports and along transport routes are causing bottlenecks and extended delivery times. Key ports like Singapore are experiencing severe congestion and equipment shortages, further complicating logistics.
Containers are not evenly distributed globally, leading to imbalances in the supply chain. This uneven distribution exacerbates logistical challenges, making it difficult to manage freight efficiently.
There is a shortage of both ships and containers, making it difficult to accommodate the high volume of freight. This shortage has resulted in increased freight costs and delays.
Companies are already pulling forward their Christmas trade to Europe to avoid further delays and cost increases later in the year. The early start to the peak season is driven by concerns over ongoing logistical challenges and potential port strikes later in the year, which could further impact freight prices and availability of goods
At INDURA, we are actively monitoring the situation and exploring alternatives to mitigate these impacts. Our team is dedicated to ensuring that we continue to meet your needs with the least possible disruption.
For more detailed insights and assistance, please don't hesitate to contact your INDURA representative.
Best regards,
The INDURA Team
