- all-inclusive rates inch up as shippers compete for space
- September premium increases likely
- Southeast Asian delays pushing rates North
All-inclusive premium bookings heard in the US marketplace inched upwards during the week to Aug. 27 as port congestions on both sides of the Pacific supported market rates, and booking levels soared as shippers in China attempted to outbid one another says an article on SP Global.
Supply chain slowdowns
The fallout from the recent port closure in Ningbo provided support to rates during the week. While the affected Meishan terminal has been opened, sources said existing cargo backlogs and vessel bunching will continue to exacerbate supply chain slowdowns.
High rates
“From an official perspective, FAK rates have hit a ceiling, from a reality perspective, that’s not true,” a carrier source said, noting that many bookings were auctioned by loaders and forwarders in China. “Carriers have come under the scrutiny of the Chinese government, yet forwarders can get an $8,000/FEU quote and charge $25,000/FEU.
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Source: SP Global
