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September 17, 2021

Tenfold increase in freight rates puts pressure on European timber import prices

Tenfold increase in freight rates puts pressure on European timber import prices
The key topic when it comes to European imports from Asia remains freight rates. A 40ft container from Malaysia or Indonesia as late as last autumn cost US$1500 -$2000. By Q2 2021 importers were being quoted US$15,000- 20,000 and rates have stayed there.    This is attributed mainly to the general disruption to world trade caused by the pandemic, with a lack of return freight from western markets to South East Asia and empty containers stock piling in the wrong locations. In response, there has been a shift for some timber products, such ...

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