SHIPPING lines appear to be confused about the amount and validity of their general rate increases, reported Loadstar, raising not much hope of shippers understanding their GRI strategy, or finding reasons to justify paying the rate hikes.
Ocean carriers desperately need the July general rate increases to stick in order to recover some of the losses incurred in the first half of the year.
Asia-Europe spot rates on the Shanghai Containerised Freight Index finally showed some overdue traction last week, surging by US$310 per TEU on the trades to north Europe to $1,416; and by $133 per TEU to $1,700 for Mediterranean destinations.
A prime example is German carrier Hapag-Lloyd who had to revise downwards its plans to introduce a market-leading $1,000 per TEU from July 9 on the Asia-Europe tradelane.
It has since reduced the asking price to $500 and brought the implementation date forwards to July 1.
Somewhat ironically, since the outlawing of rate-setting liner conferences in Europe in October 2008, ocean carriers have been accused of "signalling" their general rate increases through their websites and the media in that the GRIs were sufficiently similar in size and implementation date to suggest collusion.
MARKETS
11 July 2014 - 20:52
Freight rates are not sticking, subject to rapid change
SHIPPING lines appear to be confused about the amount and validity of their general rate increases, reported Loadstar, raising not much hope of shippers understanding their GRI strategy, or finding reasons to justify paying the rate hikes.
MARKETS
11 July 2014 - 20:52
Freight rates are not sticking, subject to rapid change
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