Following on from our customer advisory newsletter earlier in the month we are still seeing indications that freight rates will rise from the beginning of August. Recent blanked sailings and Maersk’s announcement of a GRI, are compelling signs that ocean freight rates may be about to move upwards.
All market indications have been suggesting that demand remains low during the peak season period, and almost every attempt for carriers to increase rates has failed so far.
However, Maersk went out on their own and stated they were increasing rates from August 1st and the current communication channels are suggesting that other carriers are following suit with their own increases.
We have also witnessed a recent surge in blanked sailing announcements, which is often a tell tale sign that capacity is being reduced to support a GRI.
Therefore, we currently understand that ocean rates from Asia to both Europe and North America will be going up at the end of this month and you should be prepared for this, perhaps even consider fast tracking some orders to ship before the end of this month.
Naturally, we will be monitoring developments during the next two to three weeks and will update individual rates accordingly.
If you have any questions regarding the above, then Westbound are here to help. So, please do not hesitate to contact us.
