HANOI, April 1 (Xinhua) -- Vietnam's international shipping rates could rise by 50 to 80 percent as tensions in the Middle East disrupt supply chains, local media outlet VnExpress reported Wednesday.
Marine fuel prices have increased to 1,100 to 2,000 U.S. dollars per ton from 550 to 750 dollars before the conflict, forcing shipping lines to adjust freight rates, as fuel accounts for 30 to 40 percent of total costs, the report said, citing the Vietnam Maritime and Waterway Administration.
As rising logistics costs are expected to affect import-export prices and erode Vietnam's competitive edge, the administration suggested tightening supervision of pricing and surcharges while working with carriers to stabilize transport capacity and curb unreasonable price hikes.
Domestic container transport prices have climbed by 7 to 12 percent since mid-March, with rates on the Hai Phong-Ho Chi Minh City route reaching up to 2.8 million Vietnamese dong (about 111.56 U.S. dollars) per 20-foot container and 5.3 million Vietnamese dong (about 211.17 dollars) per 40-foot container, with higher rates on the return leg. ■