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Update GRI May 2015

Following our earlier message on the possible GRI (General Rate Increase) on the Far East Westbound trade we would like to update you on the current situation.

The war for freight seems to be full on this month : we have seen carriers tumbling over each other to lower the ocean freight rates for the last week’s in May while announcing huge increases from June 1st up to Usd 1000 per TEU…

A very important development is the announcement from 2M (the Maersk and MSC alliance) that they have no intention to withdraw tonnage as of today and the announcement from Ocean 3 (the CMA, UASC and Chine Shipping alliance) to bring three 19000-TEU-ships back to the Asia to Europa string. It looks like earlier plans to create lack of space in order to increase rates has been demolished now.

Although it is hard to predict anything is this crazy market but it seems these actions do not support huge rate increases for the beginning of June.

As soon as there is more information available for next month’s rates we will let you know.

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