Carriers Pushing Hard For Rate Increases
Ocean freight carriers are making a big push to uplift rates, especially on Asia origin movements, between now and the new year, with further GRI’s recently announced.
While we have still not reached the previously mentioned December 15th GRI plan, two carriers have now confirmed they will be implementing significant increases from January 1st, with others potentially following.
At least one of these carrier’s is not taking bookings until the new year, and the global ocean freight situation is fast changing.
Attacks on ships in the Middle East have led to some vessels being diverted around Africa, while the Panama Canal delays have also led to some ‘around the world’ loops being rerouted.
The current geo-political tension, along with schedule and market uncertainty, may present an opportunity for carriers to push through the increases that they have been trying to achieve all year.
The Atlantic Pacific team believe that increases are now likely between now and early January, but whether they hold through to Chinese New Year remains to be seen. We will be monitoring the developing situation closely, in the meantime customers should be prepared for ocean freight rates to go up.