Vietnam probes sky-high box rates

Date: Monday, February 1, 2021
Source: Splash 247

Vietnam has become the latest country to take liners to task for the current sky high container freight rate scene.

The Vietnam Maritime Administration (VMA) has vowed to probe prices on the transpacific and Asia-Europe tradelanes, where costs to ship boxes have shot up to record levels in recent months.

“The continuous increase in freight rates and surcharges has caused many difficulties for businesses, increasing transportation and storage costs, affecting production and distribution of goods,” deputy head of the VMA Hoàng Hồng Giang told state-run media this week, going on to discuss the large number of containers being rolled and also arriving late at their planned destination.

The VMA is demanding liners be far more transparent with their rates and surcharges.

Last year, Vietnamese ports handled 14.65m teu, up 10.6%.

Many regulatory authorities including in China, the US and South Korea are also looking into liners’ pricing tactics in recent months, with the record shipping costs and concurrent supply chain glitches making regular mainstream headlines.


[Read from the original source.]