News / Shipping rates to soar, with a new Cape surcharge as ships are diverted

26/03/2021

Container spot rates from Asia to Europe look set to surge again, as carriers are obliged to blank sailings in response to the Suez Canal blockage.

The Loadstar understands that shipping lines are considering introducing a Cape surcharge for vessels that are diverted around Africa to recover the extra cost of bunker fuel consumed in the additional seven to 10-day transit.

Christoph Baumeister, senior trade manager, Asia/ISC Europe at Flexport, said the grounding of the Ever Given in the Suez Canal “had ...

Please Register

To continue reading, please login or register for full access to our free content

Loadstar subscriber LOGIN

New Loadstar subscriber REGISTER

Please Login

Please either REGISTER or login below to continue Forgotten your password? Please click here

Email*
Password*

Reset Your Password

<< Go back

Email*

Comment on this article

You must be logged in to post a comment.

Henry Gorski
March 26, 2021 at 3:10 pm
Given the amount saved by not transiting the Suez, there is only a small incremental cost increase in fuel, If the vessels await the opening then the delay could be perhaps of an equal duration. The transit cost is not insignificant for a vessel of this size !

Log in to Reply