Sea freight costs expected to rise in the near future

1.6.2020

Sea freight costs are expected to rise in the near future

Sea freight costs have started to rise and are expected to rise heavily in the near future. The COVID-19 pandemic is a major factor driving up sea freight costs, as it has caused a surge in demand for shipping services while also disrupting global supply chains and reducing the availability of shipping capacity.

In addition to the pandemic, there are other factors contributing to the rise in sea freight costs. For example the cost of raw materials used to manufacture containers, such as steel and aluminum, is also increasing. This is due in part to supply chain disruptions caused by the pandemic, as well as increased demand from other industries such as construction.

Lately there has also been a shortage of shipping containers in certain regions, which has driven up the cost of container rentals and led to delays in shipping. Additionally, there have been increases in transportation costs due to a shortage of available vessels and higher fuel costs.  This development is expected to continue.

All of these factors have combined to create a challenging environment for the shipping industry, leading to higher sea freight costs for businesses and consumers alike