Southeast Asia freight rates are about to see a wave of big increases!

Recently, there has been reports of unusual port congestion in the whole of South East Asia.

-Port Klang, Malaysia had a 14.5% higher than normal congestion rate.

-Tanjung Pelepas Port, Malaysia had a 29.9% higher than normal congestion rate.

-6.7% higher than normal at TanjungPriok, the container hub in Jakarta.

-Congestion in Manila also increased by 6.5%.

Port congestion, sailing schedule confusion, and unjustified postpones by shipping lines are becoming more common.

The small ships were auctioning the sailing route earlier, and was won by the Philippines and Japan line, so in order for Singapore and Malaysia’s cargo to board the ship, they are forced to transit the ship at Philippines and Japan at a high price. This chaos directly leads to the price increment of Southeast Asia’s sailing routes, repeating the situation of Europe and America line last year.

Due to the shortage of vessel, freight forwarders have announced an emergency price increase. Sellers have nearly doubled the cost previously due to the price increment of raw materials. This new round of logistics price spike, will greatly affect the traders of South East Asia.

In this tide of price increment, the routing for Singapore is affected the most, followed by Malaysia, Thailand will also be affected by this tide of price increment.