Ocean freight rate to increase in next Jan. on rising crude oil and steel prices

Driven up by the rising crude oil and steel prices in global prices, the shipping merchants have decided to increase the ocean freight rates in next January to reflect the costs.

It’s known that the ocean freight rates have almost remained unchanged this year. However, the US dollar has been deprecating while the international crude oil prices have been increasing.

Moreover, shipping merchants indicated that the severely cold winter has caused the ships stop at port; therefore, it has seriously affected to dispatch on time.

Consequently, the increasing costs have forced shipping merchants to increase the ocean freight rates to avoid the loss.

News Date 12/29/2010 9:32:31 AM reported by Ivy Wei