Incoming Rate Increase For Asia Ocean Freight
Atlantic Pacific have received several notifications that ocean freight carriers are implementing a General Rate Increase (GRI) on Asia imports from 1st May 2024.
The rate increase is due to be implemented on both Asia-North Europe and Asia-Mediterranean services from next month, and the levels will vary between carriers and routes.
Of course, carrier GRI’s have a history of being adjusted, or sometimes even cancelled, right up to the planned implementation date. However, with the uncertainty in market conditions, we suggest that customers be prepared for an increase in costs.
The Middle East conflict continues to impact ocean freight and disrupt carrier networks and schedules. The attack on Israel by Iran, and the seizure of the MSC Aries by Iranian troops, has only added to the volatility within the shipping industry.
The team at Atlantic Pacific will be monitoring developments very closely.
