Asia–Europe ocean freight rates look set to rise again, with major carrier networks preparing to implement a new General Rate Increase from 1 July.
Demand is still higher than available vessel capacity, giving carriers further opportunity to push through additional increases after the GRI applied earlier this month. The exact level of any increase will vary depending on the service, route and carrier involved.
The main carrier networks appear to be now operating at or near full capacity, with only three blank sailings being reported this week, but space from Asia is still highly constrained.
Many carriers are now unable to accept bookings for sailings before July, and in some cases for later departures too. As a result, securing space is becoming increasingly difficult, especially for shipments arranged at short notice. Importers are advised to plan as far ahead as possible and make bookings early.
It is not yet clear whether the current demand is being driven by an early peak season, with importers moving orders forward, or whether these market conditions will continue through to Golden Week in October.
Global Freight Services is continuing to monitor developments closely and is working with its regional partners to secure space where available. For more information, or to discuss any urgent shipment concerns, please contact a member of our team.