TAIPEI (TVBS News) — Taiwan's shipping market was abuzz on Tuesday (Dec. 20) with news that Japan's Ocean Network Express (ONE) plans to impose an emergency surcharge of US＄1,000 per container, in response to the escalating tensions in the Red Sea.
If the emergency surcharge alongside a US＄1,000 increase in base freight rates were to take effect, the total cost of shipping a large container could soar to US＄4,000. However, this figure remains below the $6,000 being quoted in the Chinese market.
At the end of November, freight charges from Taiwan to Europe averaged between US＄900 and US＄1,000 per large container. On Dec. 1, rates climbed to a range of US＄1,300 to US＄1,400, and by Dec. 15, had further escalated to US＄2,000.
Shipping companies are planning yet another hike, intending to raise rates to $3,000 beginning Jan. 1, 2024.