Shipping company announced: another GRI surcharge in May!

Recently, the container shipping market is generally stable, shipping companies continue to control the cabin to support the freight rate, the comprehensive index rose slightly to hold steady the thousand-point barrier. According to the latest data released by Shanghai Shipping Exchange on April 21, Shanghai Export Container Freight Index (SCFI) was 1037.07 points, up 0.3% compared with the previous period.

From May, shipping companies add another GRI surcharge!

According to the news of Taiwan media, as the new annual long term contract price of U.S. line, which is very profitable, enters the key moment of countdown, shipping companies are planning to raise the spot price for the second time to increase the bargaining chips for higher long term contract price.

Following the announcement of the GRI surcharge on April 15, Evergreen, Yang Ming and a number of foreign shipping companies have informed large customers and freight forwarders that from May 1, the U.S. line GRI per 20 late containers up $ 900 20-foot containers up $ 900, 40-foot containers up $ 1,000, equivalent to a 60% increase in freight rates.

Previously, Hapag-Lloyd also announced that it will increase the General Rate Increase Surcharge (GRI) for shipments of 20' and 40' dry containers, reefers and special containers (including tall containers) from East Asia to the U.S. and Canada, and that this GRI will apply to all containers from May 1, 2023, with an expiration date to be announced.

The specific rates are as follows: $800 for all 20' containers; $1,000 for all 40' containers.

Part of the freight forwarding industry bluntly, the price increase is very difficult, mainly because the United States line cargo volume is low, the second quarter is less than the traditional peak season; but also the industry believes that the United States line with small and medium-sized shipping companies out of the market, the three major alliances market share of more than 80%, coupled with the effect of shrinkage, finally in April in the price of success, coupled with continued shrinkage, there is still an opportunity to rise a wave, but the rate of increase is limited. The actual rate of increase depends on customer acceptance.

And at present the binding force of the long contract is low, if the shipping company can not hold steady spot price trend, it is difficult to guarantee that large customers will not ask to amend the contract to reduce prices. At present, we can only look forward to the second half of the economy gradually improve, Europe and the United States new orders to support.

Shipping companies continue to shrink cabins to protect the price of shipping! Cancellation of nearly 51 voyages! Cancellation rate 8%!

Recently, in order to stabilize freight rates, major shipping companies continue to reduce supply by cutting classes and merging classes.

On April 21, Maersk announced that in order to better cope with demand fluctuations, Maersk will cancel 3 voyages of 3 Asian and American routes respectively, namely MDV TBN/320N voyage of TP2 route, Maersk Esmeralds/319N voyage of TP6 route and Good Prospect/318W voyage of TP11 route.

According to the latest data released by Drury on Dec. 2, out of a total of 675 scheduled sailings on major trade routes from the Trans-Pacific, Trans-Atlantic and Asia to Northern Europe and the Mediterranean, 57 sailings were cancelled during the five-week period from Week 17 (April 24-30) to Week 21 (May 22-30), representing an 8% cancellation rate.

Drewry's World Container Index WCI rose 4% to $1,774 per 40-foot container as of April 20, following the trans-Pacific GRI in mid-April, Drewry said.

Shipping lines have now increased or stabilized spot rates on major east-west routes from Asia, but spot rates on transatlantic westbound routes are still declining. Given the expected arrival of new capacity, carriers face a real challenge to manage capacity and maintain current spot rates.