Indications point towards a General Rate Increase (GRI) being successfully introduced on the Asian market at the end of this month.
While demand continues to be low and no peak season period has materialised, carriers have blanked out numerous sailings at the end of July and beginning of August to create an artificial market position and to ensure rates can be increased.
Therefore, we currently understand that the ocean rates from Asia to the UK, Europe and North America are likely to rise significantly from August 1st
Steamship lines have seen numerous attempts to uplift rates fail this year, but current spot rates are indicating that prices will rise.
