As predicted the mid October GRI (General Rate Increase) on the Asia to Europe trade was not successful. The slow re-start after China’s Golden Week holidays has lead to decreased bookings, yet now momentum is picking up and set for a definitive GRI for November 1st.
Shipping lines have mostly indicated an average increase of $850 per TEU.
There is already a high vessel space demand, where lines are pulling out certain sailings to uphold the new higher rate levels.
We are encouraging all clients to forecast their purchase orders and loading requirements with our Import sales team ready from November 1st and 31st December.