Importing from China sees significant rate increases at the start of July 2013. All the major shipping lines currently involved in importing from China have implemented a GRI on the FCL market that will be put in place as of the 01st July 2013 and it is to be quite a bit higher than we were hoping for here at Eclipse Worldwide.
The current rates will apply to any shipment that is on the water or departs after the 01st July 2013 and the true impact on this rate increase will mean that in a lot of instances a lot of companies, wholesalers, retailers and forwarders could see a doubling of the rates that they were paying during June 2013 on the Asia to Northern Europe trade lane. Importing from China is just one of the shipping routes impacted in this round of price rises as other routes such as importing from China to the US has also seen significant increases on basic ocean freight rates and cost per TEU.
The latest market figures show that importing from China has seen an increase of 174% or in real monetary terms $895.00, week on week this has resulted in an average cost of $1409.00 per TEU currently being charged.
Importing from China is now at the highest level since March 2013 when the carriers last managed to pass such a GRI and reflects what the current market position is for the major shipping lines.
With price increases being so high this will not only effect companies who are importing from China using full containers but will filter down through to the companies who are also importing from China but bringing in smaller LCL consignments.
The July 2013 rates for LCL shipment importing from China will also go up and we are being given an indication that this will be in the region of $15.00 to $25.00 usd per CBM.