Shippers and freight forwarders are voicing increasing concern over alleged price gouging by shipping carriers on Asia-Europe routes. They cite substantial increases in charges, which combine peak season surcharges, elevated fuel costs, and security surcharges related to the Red Sea shipping crisis, all set to be consolidated into a single fee starting in January.

A forwarder, who wished to remain anonymous, revealed that carriers quoted $1,400 per 40-foot equivalent unit (FEU) in December. This rate is set to jump to $5,200 per FEU and $4,000 for a 20-foot container from January. They anticipate a further surge to $12,000-$15,000 per FEU after the Chinese New Year. Uncertainty surrounds the application of these charges, with questions about security surcharges for vessels rerouting around the Cape and additional fuel costs for those still transiting the Suez Canal.

While December freight rates have been honored, Maersk's announcement of resuming Suez Canal services on December 24 has been met with skepticism. Despite the launch of Operation Prosperity Guardian (OPG) to secure the Red Sea and Gulf of Aden routes, doubts persist among industry stakeholders.

The forwarder argues that the concept of a peak season is artificially created by shipping lines, a sentiment shared by Peter Sand, Xeneta's chief analyst. Sand disputes the notion of a capacity crunch, pointing to the increased deployment of vessels and various strategies employed to restrict capacity.

Attacks in the Red Sea have led to vessel diversions around the Cape of Good Hope.