Well, if anyone thought rising ocean freight rates would stabilize at the end of 2020’s Peak Shipping Season, think again. A new round of General Rate Increases is scheduled to go into effect on January 1, 2021. The new increases will affect all cargo imported from Asia ports of loading, to U.S.A., Canada, and Mexico ports/ramps of discharge.
The proposed increases are as follows:
General Rate Increase – January 1, 2021
USD 900 / 20′
USD 1,000 / 40′
USD 1,125 / 40′ HQ
USD 1,125 / 40′ Reefer
USD 1,266 / 45′
USD 1,600 / 53′
It’s obvious that increased ocean freight rates will continue well into 2021 with no end in sight, thereby creating great challenges for importers as they try to create meaningful and realistic budgets for 2021.
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