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Prices to rise as shipping costs quadruple

30/01/2022

It might have taken longer to filter through but prices are rising in Jan 2022

Back in 2020 we became aware of the rising cost of freight, of a shortage of chips (which are on every cartridge we sell) and shortages caused by the pandemic continuing. In 2022 we see this in the shape of price increases on the products we import to Cyprus. 10% increase seem to be the average and unfiortunately that leads to us having to raise our retail prices.

This was the original article December 2020 just over a year ago.
A year ago, a 40 foot container used to cost around $2000 / €1660 to ship between China and most European ports but today the cost is anywhere between $8000 / €6640 and $10000 / €8300.

Global shipping is facing the perfect storm of Christmas, Congestion and Covid and a shortage of containers and shipping space. The result of an uneven distribution of containers to meet surging shipping demand from Asia to Europe and the U.S.

The shortage of containers and ships is a result of the coronavirus earlier in the year with many ships loaded with containers, but in ports with nowhere to go. Demand rises and shipping lines are faced with getting ships, full of empty containers back to Asia to then pick up full loads to deliver across the globe. But empty ships cost money, and full ships command a premium.

Congestion at ports has built up in recent months as a result of ships wanting to unload quickly, but the port has high quantities of empty containers built up over the year that has led to congestion and delays. As a result, surcharges and higher shipping costs imposed by some of the world’s largest shipping lines are feeding through into higher costs.

For the office imaging sector early indication is that prices will rise in Q1 next year with hardware and consumables increasing between 3% and 12%. Low value parts could see prices double if the value of the load is less than the freight cost.

Source: The Recycler Orginal article December 9, 2020 with comment from CW Cyprus 31/1/2022