Ocean Freight GRI Proposed Again

November 28, 2023

Ocean Freight GRI Proposed Again

 

We have witnessed several attempts by carriers to raise ocean freight rates this year, which have largely failed. However General Rate Increases (GRI’s) are once more being suggested for December.

There are distinct rumblings that there could be an increase, especially for Asia origin routes, from either December 1st or 15th.

Low demand and overcapacity are still keeping rates at rock-bottom on global container shipping, and from December to Chinese New Year we are into the lowest demand period of the year.

However, blanked sailings are in full flow, which is a means of carriers creating artificial demand levels in the market.

Of course, it is our duty to advise that GRI’s may be incoming, but whether they hold up for any length of time remains to be seen.

As ever, the Killick Martin team are monitoring the situation and will notify customers directly of any movement in rates.

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