Besty

My Far East suppliers initially suggested they would swallow the costs but, additional tariff's have been applied at such a rate and so rapidly, they are no longer willing to carry the burden. Shipping Cos take any opportunity to milk the most out of any "force majeure" situation as they simply hold all the aces and there is no viable alternative. The value of contents for 1x40ft container in my line of work = approx $24,000. Shipping costs have increased by approx $3,200 so well over 12.5% of value based on the commodity I ship into the country. I understand this % won't apply to all industries and percentage points will be varied depending on the overall value of the contents but you won't see many containers with a value in excess of $30k.

I'm new to posting on this site and have read this thread with interest. I work in the paper industry for which global shipping plays a major part. I can tell you the cost of a 40ft shipping container (24t of paper) from Far east to Europe has increased from around $1,800 to almost $5,000 since the New Year. I have already received shipping surcharges of $50 per tonne and this will only go northwards if there is no resolution to the current situation in the Red Sea. Supply of shipping containers is also likely to be further restricted with the additional 2 week sailing time around the Cape of Good Hope which will only help push the price higher. Any goods from the far East are already seeing an increase of approx 5-7% but this wil more than likely increase to around 15% in the coming months.