By Érika Sáenz, Commercial Manager at International Line.
Companies whose operations depend on international trade are on alert, as starting in July, maritime freight rates will experience a significant increase. This represents a considerable challenge due to the constant rise in maritime transport costs.
Several factors have contributed to this situation. The crisis in the Red Sea and the Suez Canal has forced shipping companies to take longer and more expensive alternative routes, as well as increase insurance rates due to higher risks in these areas. Additionally, new carbon emission regulations in the European Union have imposed extra taxes on vessel operators, further raising transport costs. On top of this, the reduced availability of water in the Panama Canal is affecting the number of transits and driving up operational costs.
Nationally, the retail sector has identified the increase in maritime freight rates as a critical issue, along with the rise in land freight costs due to higher input prices, especially for oil. For Chilean retailers, maritime transport represents between 11% and 17% of their costs, which inevitably reflects on consumer prices. However, the recent drop in the exchange rate in Chile could partially mitigate these effects.
Therefore, it is crucial for importers to consider these circumstances and schedule their shipments as early as possible to avoid setbacks and optimize their costs. Port congestion and container shortages have caused an increase in prices, making forward planning more important than ever.
In the coming months, shipping companies are expected to raise the base level of rates, although a greater availability of fleets is expected in response to current demand. Shipping companies are working to balance supply and demand for services, which could provide some stability in the near future.
