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General Rate Increase November

General Rate Increase November

Carriers have announced November 1 general rate increases (GRIs) between Asia and North Europe, ranging from $750 per teu to $1200 per teu. Again carriers have also withdrawn around 170,000 teu of capacity over a three-month period, which they hope will cut supply sufficiently to improve their prospects of securing a significant percentage of this latest GRI.

It is important for the carriers to force rates back up ahead of negotiations with shippers over new annual contracts.
Some carriers are reporting full for some recent sailings, but it is mainly due to the abundant blank sailing scheduled in October, as we do not see any dramatic cargo increase so far.

At the same time, some carriers start to release long term NAC deals till end of the year and maybe it is another sign that carriers are not expecting the GRI will be implemented very strong till end of the year.

We will keep you posted on relevant developments as usual, in the meantime please do not hesitate to contact us with any questions that may rise from above.


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