It was Yogi Berra who coined the phrase “it’s Deja Vu All Over Again.” And now the same can be said for the Ocean Freight Carriers operating in the Asia to North America Trade Routes.
Effective October 1, 2020, A General Rate Increase (GRI) has been filed for all cargo imported from Asia ports of loading, to the U.S.A., Canada, and Mexico ports/and ramps of discharge.
The proposed increases are as follows:
General Rate Increase – October 1, 2020
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′
As we have said with all previous GRI notices, it is not possible to predict the future market based on current trade conditions, therefore every shipper who would be impacted by these rate increases should consult with their ocean carrier partners to continually monitor the situation as it develops.
Worried about rates? Learn more about our international logistics consulting services here.
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