Here are 4 reasons before for your better understanding:
1. European routes have been significantly affected by the crisis in the Red Sea, forcing the ships to detour around Africa.
2. The price increases in South America is mainly due to Brazil’s and Mexico’s plans to impose additional tariffs on Chinese electric vehicles in July and beyond.
3. The U.S. election has been claiming that future tariffs of 50-60% on Chinese goods.
4. Shipping giants are taking advantage of the above reasons and actively intactly raising prices together.