China Seafreight General Rate Increase

We have been notified by the shipping lines that a GRI will be implemented on April 6.

This is very late notice however from our point of view we have been reluctant to announce an increase too soon. The volatility of the market has been such that last minute changes have resulted in decreases over the last few months and keeping the overall increase to a minimum, so waiting to the last minute has been worthwhile.

Rates have also polarised the market with South China being the most changeable.

Central and North China still has positive demand at this stage.

In summary South China is likely to rise by USD200 per TEU and Central and North by USD175 with the exception being Dalian and Tianjin which will remain as is.

We will send out new schedules tomorrow.

Note we do expect further changes in late April which could be reductions so once again it’s a volatile market. On the upside rates have been very low over the 12 months so it’s not all bad news.

Kind Regards

Bruce Haines
Managing Director