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NEW TRADE REPORT BY CONTAINER XCHANGE: PORTS IN CHINA CHARGE THE LOWEST DEMURRAGE & DETENTION FEES IN THE WORLD
The U.S. came out worse regarding D&D costs in regional comparisons in Container xChange's Demurrage & Detention Benchmark 2022 report. By region, D&D charges in May in the US were the highest at $2,692 per container. This compared to $549 in Europe , $482 in India , $453 in China and $366 in the 'Rest of Asia '.
"Throughout this pandemic, as shipping costs have soared and inflation has become a threat to the global economy, it has become critical for shippers to develop visibility into container operations to manage costs like Demurrage and Detention. China leads the world in maritime exports and even though it has some of the busiest ports in the world, they've ensured they are the most efficient – even during lockdowns." said
On average, the D&D charges at these 8 Chinese ports rose from $390 in 2020 to $700 in 2021 – a staggering rise of 79.4%. The average D&D charges for these 8 ports in China fell to $614 , declining by 12.2%.
For Hong Kong SAR, where the container congestion was the worst, there was a 105% hike in its D&D charges from $813 . Hong Kong SAR recorded a fall of 8.9% in its D&D charges, coming down to $1515 . The trend reversed slightly, with D&D charges falling in some of the major ports but continuing to increase in Dalian , Ningbo , Qingdao , and Shanghai .
Yichang, Rugao & Zhenjiang in China are amongst the ports with the lowest demurrage and detention charges after two weeks.
Download the full report here - https://container-xchange.cn/2022-dd-report/
Container xChange is a technology company that offers a container trading and leasing platform, payment infrastructure and efficient operating systems to container logistic companies worldwide. Covering the entire transaction process of shipping containers starting with finding new partners to track containers and managing payments, xChange makes using 3rd party equipment as easy as booking a hotel. We are on a mission to simplify the logistics of global trade. Please visit website for more information - https://www.container-xchange.cn/
Ritika Kapoor, rka@container-xchange.com
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