Ocean GRI Proposals Circulating Again
Despite numerous attempts to raise rates this year, which have largely failed, General Rate Increases (GRI’s) are once more being suggested for December.
Originally proposed for December 1st, there are now rumblings that there could be an uplift in ocean freight rates, especially Asia origin routes, from around December 15th.
Low demand and overcapacity are still hindering steamship line opportunities to address the rock-bottom rates on global container shipping and December through to Chinese New Year is traditionally the lowest demand period of the year.
However, blanked sailing programmes are in full flow and cancellations are coming thick and fast, which is a means of carriers creating artificial supply and demand levels in the market.
It would be remiss of us to not advise that GRI’s may be incoming, but whether they hold for any length of time very much remains to be seen.
As ever, the Atlantic Pacific team are keeping a close eye on the situation and will notify customers directly of any movement in rates.