Shipping rates from Vietnam to US, Canada increase by 55-73 per cent

This is as per media reports, which citing data from the ministry of transport’s Vietnam Maritime Administration claimed shipping rates from Vietnam to US and Canada have increased by 55-73 per cent from what they were at the end of last year,

Meanwhile, there have been three to four times increase in shipping rates to Europe to $4,350-4,450 per container even as some major shipping companies reportedly started levying peak season surcharges on top of the freight hikes, making shipping even more expensive.

Taking part in a recent event aimed at discussing solutions to alleviate difficulties for businesses, the deputy director of the Import-Export Department under the ministry of industry and trade, Tran Thanh Hai, reportedly underlined apart from increased shipping cost, businesses are forced to deal with extended transportation time and shipping container shortages.

Vice president of the Vietnam Logistics Business Association, Le Quang Trung, reportedly acknowledged these concerns, and suggested that regulators should issue policies and rules to manage prices, fees, and surcharges even as exporters have called for sanctions to stop shipping companies from exploiting the Red Sea tensions.

Fibre2Fashion News Desk (DR)