The Vietnam Maritime Administration recently required container shipping lines to be transparent about freight rates. The reason is that this agency has received many reports about the situation where container shipping lines are increasing prices, charging high container transport service surcharges, or lacking empty containers to pack goods for export, and having no vessels for transport.
In November, most shipping lines announced price increases of 2-10 times depending on the route. Specifically, the rental fee for a container to the UK in October was 1,420 USD per 20-foot container, by November it increased to 5,420 USD and reached 7,200 USD in December. The rental fee for a container from Thailand to Vietnam before October was 60 USD per container, but by November it had increased to 600 USD. Or the rental fee for a container from Vietnam to Los Angeles (USA) before October was about 700 - 1,000 USD per container, by November it had increased to 5,000 USD.
Although prices are continuously pushed up, businesses also do not easily find empty container shells to rent. This issue is “squeezing” the flow of trade when approximately 60% of goods globally are transported by container.
According to the Ministry of Industry and Trade, China is currently the country making moves to collect containers from other countries at high prices because the shortage of empty containers in this country occurred earlier and more severely. Exports from China increased by 21% in November compared to the same period last year when the “giant” production machine accelerated after the pandemic. This creates a general scarcity of containers for countries in the region.
Faced with these situations, the Vietnam Maritime Administration requested container shipping lines in Vietnam to provide information on listed prices and sea transport service surcharges in accordance with Decree 146; not to allow profiteering or unreasonable pricing that causes difficulties for shippers and disrupts the maritime transport market.
Shipping lines also need to have measures to increase reserves and circulate empty containers (40-foot type) to reduce service prices, meeting the demand for containerized goods export for shippers during the current period of high demand. The Maritime Administration said it will coordinate with relevant agencies to inspect directly at shipping lines and strictly handle cases of intentional violations.
According to the forecast of the Ministry of Industry and Trade, the shortage of ships and containers could last until February-March next year, or even longer if Covid-19 is not controlled.
According to VnExpress.net
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