Sea freight rates have increased sharply, businesses should consider alternative transportation options. - Illustrative photo
On the afternoon of June 19, at the regular press conference of the second quarter of the Ministry of Industry and Trade , Mr. Tran Thanh Hai, Deputy Director of the Import-Export Department, said that from April 2, the United States announced the imposition of reciprocal tariffs on all countries; however, on April 9, there was a decision to temporarily postpone the application for 90 days.
This allows countries, including Vietnam, to continue exporting. As for China, the highest tariff rate proposed by the United States was 145%. However, after the agreement on May 12, this tariff rate was reduced to 30%. This is the time to create a "vortex" when Chinese businesses take advantage of this time to boost exports to the United States.
According to Mr. Hai, China's increased exports have led to a high concentration of goods, ships and containers in this area, causing shipping rates to increase sharply. A similar situation occurred during the COVID-19 pandemic.
In addition, local container shortages have also begun to appear, not only in China or Vietnam but also in other exporting countries such as Indonesia, Thailand or Malaysia. However, through the work of grasping the situation of the Ministry of Industry and Trade and the Vietnam Maritime Administration ( Ministry of Construction ), the container shortage in Vietnam is not yet widespread, there may be difficulties somewhere but not as serious as the time of the COVID-19 pandemic.
In addition, conflicts in the Middle East also affect international shipping. If shipping vessels have to avoid the region and go around Africa, shipping costs will continue to increase, affecting the cost of exporting to Europe and the US East Coast.
In this situation, Mr. Tran Thanh Hai recommends that businesses need to update the situation to coordinate with import or export partners. Based on previous lessons, it is necessary to be more careful in signing contracts related to transportation, logistics and delivery of goods to limit risks, especially in the context of unusual situations such as delayed ships or being affected by conflicts.
In addition, businesses should also consider alternative transport options. In particular, the intermodal rail route to Europe is still available and is a potential solution.
"The Ministry of Industry and Trade, together with the Ministry of Construction and the Ministry of Finance, are closely monitoring developments in the logistics market to make appropriate recommendations and support businesses," Mr. Tran Thanh Hai affirmed.
Anh Tho
Source: https://baochinhphu.vn/gia-cuoc-van-tai-bien-tang-manh-doanh-nghiep-nen-can-nhac-phuong-an-thay-the-102250619181459262.htm
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