News / Relief for Asia-Europe carriers as rate hikes stick – now transpac GRIs loom

© Xuejingwen

Asia-Europe carriers saw their early December general rate increases (GRIs) stick this week, with spot rates into both North Europe and Mediterranean ports seeing double-digit increases.

Drewry’s World Container Index (WCI) had a reading of $4,775 per 40ft for its Shanghai-Rotterdam route, a $800 per container hike representing a 19% increase on the week before, while shippers on the Shanghai-Genoa leg found themselves paying another $1,000 per box after rates jumped 22% week on week, to $5,496 per 40ft.

Meanwhile, Xeneta’s XSI ...