Shipping lines impose more rate increases
The main shipping lines are again trying to introduce further general rate increases (GRI’s) for the month of September. We have seeing rates of over 250USD per TEU (Twenty foot Equivelent Units). This is from imports and exports from general Asia area including China and India to most Europe Union countries. The shipping lines are still trying to claw back some of the rate decreases in the past 12 months and restore profitabilty. October will see if the have managed to maintain these rates or under pressure from clients and forwarders they have had to roll some of them back. Suppliers and buyers are going to have to probably on the whole get used to some form of rate increase though.