International Shipping Rates Increase for Ocean Freight
While 2011 was a good year for shippers of international freight across the industry, you can expect some rate increases for ocean freight in 2012.
Last year people noticed falling rates on imports from China as well as some other key lanes due to a variety of international shipping factors. One of the main reasons for falling rates on imports is over capacity. Overall, there were more containers than shipments. There was also tough competition with other international ocean carriers so many carriers opted to leave most rates the same and only cut rates on certain lanes.
Many in the international shipping industry will see ocean rates on both 20 and 40 foot containers go up in 2012. Maersk already put in a GRI effective January 1st, which will cause ocean rates for shipments from the far East to go up. Happag Lloyd is also a major player who put peak season surcharges in place on containers travelling from the far East to the U.S. Most carriers are starting 2012 with either peak season surcharges (PSS) or general rate increases (GRI). Some carriers are even imposing both for 2012.
The international freight market is a very volatile market. Last year we saw a swing in the shippers favor, and this year we expect carriers to be more favored than shippers. Despite what is happening in the market, PNG Logistics can help you navigate the trends, price increases, and other potential difficulties. We are able to leverage better pricing due to our large volume. And we are able to recognize trends and find you better solutions for your freight. Give us a call to check out your options at (877) 764-9441.
Have domestic shipments? We can help with those as well!
Head to PNG Logistics for more information.