Shipping prices are likely to rise further in the coming year despite increases in tonnages, according to maritime research firm Drewry.
In an interview with The Loadstar, the company’s founder, Philip Damas, said that while around three million additional TEUs (20-foot equivalent units) of tonnage will be shipped during 2025, this would be offset by the impact of ongoing market disruption. This potentially includes new strikes affecting east coast and Gulf coast ports in the US, and other international transport hubs.
Damas said that even if US port strikes do not happen, other inflationary pressures – including a 75 per cent increase in carbon emissions taxes from January 2025 and vessels likely having to avoid the Suez Canal/Red Sea area until at least 2026 – would continue to push rates upwards. He added that, even in best-case scenarios, he expected the prices of containers to stay above pre-pandemic levels.
The formation in September this year of Maersk and Hapag-Lloyd’s Gemini Cooperation adds a further unknown, he said. The new alliance, which will reportedly offer ‘high-schedule reliability of over 90 per cent’ will go head-to-head with the world’s largest carrier, MSC, Ocean, and Premier groups.
