Vessel space demand is ensuring the August 1st GRI will succeed
As the market recently announced a General Rate Increase on the Far East Import trade to Europe, vessel space has become increasingly under pressure to ensure the ‘GRI’ sticks firmly.
Lines have announced different ranges of increases from $400 per TEU (20ft Equivilent Unit) to $650.
Average GRI is looking like $575 per TEU.
We can all be forgiven to expect a few days grace of July rates, but this time we’re doubting that. Whilst vessel space is full and containers are being rolled with lower paying contract rates, there is every reason for lines to hold strong and enforce a stern GRI entering into the peak season of August-November.
We are of course in strong negotiations with shipping lines and will remain competitive as always in the lowest possible area to ensure containers are shipped vs rolled.
New rates will be finalised and sent to all clients once the rates are completely confirmed as 100%.
LCL will be affected accordingly on a pro ratered basis of how the FCL market rate looks come 1st August.