According to the Hong Kong Shippers' Council (HKSC), the sea freight market is rapidly deteriorating, and the congestions are expected to extend into the 1st quarter of 2021. Many main ports are severely congested, especially the Felixstowe of the UK, the Rotterdam and Antwerp of Europe, and some of the US ports. Port space will be tight, and the freight rate will stay at a high level where the freight rate from Europe to Asia has already surged to over US$5,000 per container.
FHKI would like to remind members that, as some countries facing port congestion, city lockdown, inland movement disruption, etc., the high-cost environment might continue and seriously impact the intra-Asia trade. Members should be aware of the deterioration in service levels and supply chain reliability, as well as aware of any potential surcharges.
For enquiries, please contact the Secretariat of the HKSC (Tel: 2211 2323).
For details, please click here to access the circular from the HKSC :
The 2nd Shipping Alert to Shippers