Ocean freight rates from China ports began to decline

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Ocean Freight

The recent sharp drop in ocean freight cost has great impact at exporting and importing.
From the recent quotations of freight forwarders, it can be seen that all the shipping price has decreased dramatically.
The price of Matson Vessel 20GP dropped from 30,000 USD to 20,000 USD. The price per kilogram has dropped from the peak close to 30RMB/kgs to less than 20RMB/kgs.
The quotation of MSC 20GP has fallen at lower than 9500USD. Then what is the cause behind?

Ocean Freight 1

Insufficient production capacity, reduced shipments, and electricity curtailment orders may become the main reasons for the price cuts of ocean logistics.
Under the condition of restricting electricity use, the delivery pressure of the factory is high, and the supplier’s delivery problem caused by the limited capacity is inevitable. It is reported that some companies have reduced their power consumption by 30% every day, or even strictly reduced their capacity by 50%, and their production capacity has plummeted by nearly half. Many orders are Forced to be cancelled. #supply #supply #shipping #logistics #supplychain #export #freight #autoparts #aftermarketautomotive #aftermarketparts

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