While rates from above ports have remained quite stable for the past 4-5 months, we are again now receiving notices from shipping lines that they will be applying rate increases effective 1st July 2017.
These notices are not uncommon and while the current notices are indicating a General Rate Increase of USD 300.00/20ft and USD 600.00/40ft container, we do not believe this level of rate increment will be introduced. Last year we received the same notices from 1st July and the resultant increases were determined by the market, some increases were as low as USD 25.00/20ft and USD 50.00/40ft FCL.
Naturally, GPSM will be negotiating with the lines throughout June 2017 in an effort to minimise cost increases and we will, of course, keep all clients advised of any movements in the market.