Freight & haulage rates - March 2022

on 16 March 2022

Since the middle of last month we were noticing freight rate reductions.

Following on from my previous post I am pleased (I think!) to update you all on the current situation.

Depending on origin some rates had fallen by as much a $4000 for a 40’ container and $2500 for a 20’. On the face of it, good news all round. BUT (and there is always a but) the current Russia/Ukraine situation is seeing the US dollar exchange rate falling considerably and the price for a barrel of oil increasing considerably.

Inevitably this will lead to freight prices likely to increase again. Nothing advised or confirmed yet but I ask you to bear this potential in mind.

 For sure, the price of fuel at the pump has dramatically increased and from Monday 21st March UK road hauliers are to introduce a further increase in fuel surcharges from between 21 to 25% (currently 12%). If the conflict continues or even escalate, then it is anybody’s guess as to what will happen to shipping and transport costs so Let’s brace ourselves.

Until next time

Very best wishes

Andy Wilding

Managing Director