Good news, ocean freight prices are falling!!!

Good news, ocean freight prices are falling!!!

After nearly three months of continuous rise, the global shipping market finally showed signs of weakness and stagflation. On July 15, MSC Shipping's price increase plan was revoked, and even price cuts had begun in advance, and shipping companies' stock prices also fell collectively.

It is obvious that the freight rates in the west of South America, such as Chile and Peru, have been reduced from $6500-7000/20’fcl to: $5000-5500/20’fcl

The east of South America, such as Brazil Santos, has been reduced from $9000-10000/20’fcl to $7000/20’fcl

The Middle East market, such as Saudi Arabia, has been reduced from $4000/20’fcl to $2600-3000/20’fcl

At present, the shipping costs are still continuing to decline, and the product prices are at a low level. We suggest that customers will seize the opportunity, confirm the FOB price as soon as possible, and arrange purchases in time.