Optimism that exports from Asia to the U.S. are recovering has prompted carriers to increase rates – again.
Trans-Pacific carriers on July 1 will impose a highly unusual third general rate increase (GRI) in one month’s time, according to a JOC.com report.
Importers and forwarders say carriers, who filed July 1 GRIs as high as $1,500 with US regulators, this week are quoting figures between $250 and $800 per FEU, the report added.
Unlike typical peak-season increases, the July increase follows previous hikes on June 1 and June 15, according to Freightos.
According to JOC, rates will continue to rise even though volumes are down about 10 percent from the same period in 2019.
