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Forecasting rising freight rates, logistics businesses find ways to cope

Forecasting ocean freight rates to increase, logistics businesses find ways to cope - Photo 1.

International shipping rates are decreasing, but are expected to increase again in the second quarter of this year.

At the information-sharing session with logistics businesses about the US market, Ms. Vo Thi Phuong Lan, Vice President of the Ho Chi Minh City Logistics Association (HLA), informed that compared to last year, the freight rates for seagoing ships The European – American market in the first quarter of this year increased by 232%, from an average of $ 7,000 to an average of more than $ 16,000, international shipping rates to major markets, especially to the US market, are constantly fluctuating. has caused businesses in the industry to face many difficulties.

Forecasting rising freight rates, logistics businesses find ways to cope - Photo 2.

Ms. Vo Thi Phuong Lan informed businesses about the US market. HLA photo

Mr. Nguyen Thanh Tuan, CEO of Blue Sea Transportation, said: “Currently, the company has a lot of goods, but the most difficult thing for the company when going to the US market is not finding a stable price to ‘book’, the price is linked. Constant volatility makes businesses have to go around many places looking for partners.

In addition, other businesses also said that the high freight rates caused costs to increase many times, making it difficult for them to find long-term stable partners. The reason why many businesses are interested in the US market today is because according to HLA statistics, in the past 2 years, Vietnam has always been in the 2nd position in the top 10 countries that export the most to the US market by container. .

Although at the present time, freight rates for shipping routes to the US have decreased slightly compared to the average in the first quarter, but the HLA representative still emphasized that freight rates and services will increase again in August and May. 9 years ago, when the US and EU markets increased imports for the year-end period. The price is not expected to be higher than the peak in the first quarter, averaging more than 10,000 USD. The freight rates are expected to return to the same time as before the COVID-19 epidemic, it is only hoped that it can be achieved until 2023. Ms. Phuong Lan also emphasized that, in the current context, all developments in the world situation such as the war between Russia and Ukraine; China’s zero COVID policy; or changes in world fuel prices have a strong impact and change shipping rates.

In that context, “logistics businesses need to actively look for partners to sign contracts directly, avoiding intermediary partners to get the best cost for customers. Enterprises need to focus on training. personnel, optimize the process to ensure no risk, maximum cost savings,” said Ms. Phuong Lan. On the HLA side, it will continue to recommend the authorities to monitor the listing of prices of international shipping lines, promote investment in the development of domestic shipping lines, especially long distance routes to Europe and the US. , it is recommended to quickly remove the procedures to save costs for businesses.

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