News / Carriers force through rate hikes and prevent new 'race to the bottom'

© Andrii Yalanskyi

Ocean carriers are mostly holding the line on the huge mid-December and 1 January Asia-North Europe GRIs (general rate increases), and appear to have finally turned the corner with their rate restoration drive.

Encouraged somewhat by the carriers themselves, for the past few months several China-based forwarders have been undercutting agreed rates with the lines, in order to secure additional spot business.

In most cases, the carriers have hitherto been prepared to discount rates further, in order to hold market share, which ...