Far East Import Rates set for another Increase

General Rate Increase (GRI)

As we have seen, the previous GRI from May 7th was successfully implemented by shipping lines. Yet as always, rates have slowly fallen in the build up to the next increase, announced for June 1st. The saw edge rate graph continues!

From what we know so far, rates have not fallen as much as expected because vessels remain at full capacity. With slight reductions towards the end of the month, the market will be facing the usual battle of ‘Rate on paper vs Space on vessels’.

The increase for June 1st is announced as an average of $500 per 20ft and $1000 per 40ft. We dont envisage this being the final increase on top of todays rate, so we will as always ensure that our rates are the most competitive level without compromising service levels. LCL rates will no doubt be affected by the final pro ratered basis of the 40ft increase level.

We shall update all tariffs accordingly once a firmed level is fixed.

Please contact your account manager for further clarification towards June 1st.