News / Tough contract talks loom for shippers 'gobsmacked' by rate increases

Photo 146413051 © Tonyv3112 - Dreamstime.com

With capacity remaining extremely tight ahead of Chinese New Year, shippers are bracing for a further wave of rate increases on container trades out of Asia.

The spot rate indices this week were virtually unchanged – the Freightos Baltic Index (FBX) Asia-North Europe component stable at $14,496 per 40ft, and its US west coast and east coast readings at $14,924 and $16,865 per 40ft, respectively.

However, The Loadstar understands that carriers are preparing to roll out GRIs (general rate increases) and FAK ...