In 2021, the ocean freight market shocked the global logistics industry with soaring prices, and it has not yet subsided. Taking Europe to South America as an example, ocean freight in July soared four times compared with the same period last year.
Moreover, due to strong consumer demand and inventory levels still lagging, ocean freight will not decline anytime soon.

A New Round Of Increase In Ocean Freight

In March, the obstruction of the Suez Canal by a stranded container ship causing ocean freight rates to rise sharply. (This Week's Top Stories About Shipping Costs)
Coincidentally, the ocean freight market in July was affected by more factors, including fires in Canada, floods in Europe, typhoons in China, and global virus outbreaks.
These natural disasters have accelerated a new round of ocean freight price increases as the shipping season heats up.

Alternatives to Ocean Freight

Unfortunately, there are almost no alternatives to ocean freight, because all transportation costs are increasing.
More than 90% of world trade is carried by ocean - even more in some countries. Alternative methods include air or train, but COVID 19, the shortage of manpower and changes in consumer shopping patterns, these factors are also affecting air and trains and causing price increases.
More importantly, air freight is ‘only’ 6 times the cost of ocean freight (usually 12 times in previous years) in this special period, some low-value products are also difficult to afford, which means that consumers may begin to feel the impact of price increases or changes in product supply.

Will Ocean Freight Drop?

Countless people predict that ocean freight rates are unsustainable, and even predict that they will start to decline in July.
The real situation gives the final answer.
Sea freight will not drop in the short term, and will get even higher and higher. This is not alarmist. Perhaps with the improvement of COVID-19 and the commissioning of a large number of new ships & containers, ocean freight will become normal, but by no means now.

Alucoworld Solution To Help Reduce Ocean Freight Costs

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