Ocean freight rates in the Asia/Europe market are set for more major increases for the week 15th to 21st November, and they are now higher than we can remember.
There has been no let up in the demand, space issues, equipment shortages, scheduling or UK port issues, as the market continues to be extremely volatile.
Our continuous hope that we would see the market start to calm down, following Golden Week, has not yet materialised. This perhaps makes it likely that we will witness much of the same in the build up to Chinese New Year.
Right now, ocean freight rates are extremely fluid and are being revised on a weekly basis, with heavy increases expected for next week.
Westbound are continuing to seek clarification on the new rate levels with multiple carriers and will confirm customer pricing shortly.
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