Industry News

Although Rates on the Rise, Still Lower from Last Year.

Although Rates on the Rise, Still Lower from Last Year.

August 31 2015

Shanghai Containerized Freight Index (SCFI) just announced an 26% increase on container rates.

Asia- Mediterranean freight rates were affect to with a 55 percent increase this year. According to Greg Knowler of Journal of Commerce, all maj­or lines are raising their GRI to $1,000 except for Maersk who is looking to raise it to $1,250 per TEU.

According to Richard Ward of FIS, “This points to the fact that the declines on average are actually accelerating, leading to increased volatility and a greater need for carriers to implement ever larger GRIs.”cargo ship

According to the same article, rates fell across the board.  Check it out:

Asia-U.S West Coast fell 6.6%. This was 30% lower than the rate during the same week last year. Asia-U.S East Coast fell 4%. This was 34% lower than the rate during the same week last year.

But the East Coast has been reporting demand, increasing those digits. For example:

This growth is expected to continue.