Starting from May 15, rates will be raised on goods transported to the Far East, the Middle East, the Indian subcontinent and the East Coast of South America.
Beginning May 15, the Danish shipping company Maersk Line said its rates for the Far East (excluding Japan), the Middle East and the Sub Indian continent will see an overall increase of $500 per 20-foot container and $1,000 per container measuring 40 feet, 40 feet HC, and 45 feet of dry cargo.
When importing goods, Latin America spends almost twice as much as the United States in transportation costs.
High transportation costs in Latin America and the Caribbean complicate commerce and drag down productivity, in addition to protecting inefficient companies and hampering the expansion of the most competitive producers, showed a new study by the Inter-American Development Bank.
Shipping companies are seeing a decrease in the volume of maritime cargo and their earnings, and have begun to pressure the Panama Canal concerning the toll.
The Panama Canal Authority has set a price increase schedule for the Canal toll for 2009 and 2010, and the large shipping companies, which are experiencing a decrease in earnings due to the drop in maritime trade, are looking for ports where they can operate a lower cost. Ports on the eastern United States could be an option for ships coming from Asia and eventually more profitable than going through the Panama Canal.
Shipping is at an all-time low globally because of the oversupply of ships compared to the amount of products being exported.
You can find "sales" not only at the main stores globally due to the Christmas season, but also because of shipping prices. Less than two weeks ago, for example, the Cargill logistics company rented a Capemax type ship from the Japanese Mitsui OSK Lines company on a round trip via the Cape of Horns at the incredible price of $1000 per day. This same route used to cost between $1864 and $2000 less than a month ago.
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