Freight rates for South America West Coast routes are expected to increase

Freight rates for South America West Coast routes are expected to increase

Freight rates for South America West Coast routes are expected to increase by $1,000 in August, with major carriers such as CMA, ZIM, and EMC pushing for hikes, and WHL following suit. Rates from Shanghai to South America West Coast have already started to rise, while space from Shenzhen is becoming tight. Nansha is arranging barge bookings ahead of the rate increase at the end of the month. In fact, prices have already seen slight increases at the beginning of the month, indicating an overall upward trend in the market. There were also vessel cancellations at the beginning of August, adding to capacity tightness.