Unique have been receiving carrier notifications of planned General Rate Increases (GRI’s) from next month that may affect multiple ocean freight routes.
While demand for global container shipping continues to be low, we have witnessed a wave of blanked sailing announcements and the suspension of service loops to reduce the available capacity, which is often an indicator that rates are about to be increased.
The planned GRI’s target Asia to Europe and North America, but are seemingly set to impact other tradelanes too. The exact levels of increase remain unclear and if implemented will vary by route and carrier.
Carriers have made several attempts to raise ocean freight rates this year, especially on Asia origin routes, which have often been unsuccessful. However, we suggest that customers still plan for increases from November.
The team at Unique are continuing to keep a close eye on developments and will notify customers accordingly.