(Yicai) Aug. 13 -- The cost of moving goods via the China-Europe rail freight link has jumped since May because of the Red Sea crisis and a pickup in trade, with prices rising yet again this month, according to initial data.

Freight prices for trains bound for Europe from China have risen for three straight months on major platforms, increasing 3 to 5 percent last month, 8 to 16 percent in June, and 10 to 20 percent in May, according to data from supply chain services provider Silutuoke.

The cost looks to be climbing further in August, based on shipment plans and space-booking prices. The cost of consignments leaving from Chengdu and Chongqing has jumped by an average of USD300 this month, while from Zhengzhou they are up by between USD200 and USD500.

The supply of space on the China-Europe rail link may remain relatively tight, as demand will remain strong, according to industry sources. They also attribute the higher cost of moving goods by rail to the spike in maritime shipping prices in April and May, as a consequence of the Red Sea crisis, and robust demand for transportation in Europe.

China-Europe freight trains made 11,403 trips in the first seven months of this year, up 12 percent from a year ago, while cargo volumes jumped 11 percent to 1.2 million twenty-foot equivalent units, according to data from China State Railway Group. They made 1,776 trips in July, the third straight month that the figure topped 1,700, with 185,000 TEUs delivered.

China's foreign trade in goods rose 6.2 percent to CNY24.83 trillion (USD3.46 trillion) in the January to July period from a year earlier, according to customs data.

Europe's transport needs remain relatively strong, with October still being the peak season for external trade transport, Tang Tingting, assistant to the general manager of Sichuan New Silk Road Multimodal Transport, told Yicai. Space will get relatively tight, she added.

Container rental costs are a key reason for the higher shipping prices, with prices at a coastal port being over USD3,000 in May when supply was tight, Tang noted. Prices have fallen to less than USD2,000, but inland cities, including Chengdu, Chongqing, and Xi'an, still face a container shortage, she noted.

Editors: Xu Wei, Martin Kadiev