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Freight price rises to hit Chongqing’s exports

14 March 2012
Price rises introduced by major international ocean shipping carriers early this month will have a negative effect on Chongqing’s exports to Europe, said an official of the Chongqing Foreign Trade & Economic Relations Commission.

A section chief of the international logistic bureau of the commission, who wished to remain anonymous, told Xinhua that the rises would directly impact the mechanical, electrical and chemical industries.

Maersk, the world’s largest container shipping line, increased its freight prices on 1 March. NYK Line and ZIM Integrated Shipping Services also recently announced that their prices would rise from 1 April.

“Orders must be impacted by the rising price,” said Lv Ke, chairman assistant of Chongqing Huansong Industries (Group), which exports all-terrain vehicles to Europe.

Europe is Chongqing’s largest trading partner. Out of total foreign trade of US$19.84bn in 2011, Europe accounted for US$6.25bn.

     
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