The WCI (World Container Index) for May 3^rd on the Shanghai to Rotterdam freight lane showed that westbound container spot rates increase by a staggering 19%. This dramatic increase equates to an increase of $629 per forty foot container and is a result of GRI’s (general rate increases) successfully implemented by major carriers on May 1^st.

The World Container Index is compiled and assessed by Drewry reports and measures container freight rates on major East-West trade routes.

To…

The Shanghai Container Freight Index (SCFI) reported that during the week ending 27-04-2012, freight rates between China and Northern Europe increase by a staggering 3.3%, which in monetary terms is $180 per TEU (twenty unit equivalent). This increase surprised many market analysts as a substantial rate increase is due to be implemented by several major carriers today, May 1^st.

However, in regards implementing further rate increases, Lars Jensen, esteemed freight industry analyst, warned that ““With the capacity reductions now disappearing, the carriers are facing a test: will they collectively…

OOCL has announced their intention to implement a rate increase on its Asia-Europe services, which will be “applied to all cargo loading on or after or after May 15^th”. The may rate increase is in addition to a GRI(general rate increase) of $800 per TEU on the same route which was implemented on March 1^st and another rate increase in April which equated to $200 per TEU. The May rate increase also equated to $200 per TEU.

The reasoning behind the most recent rate increase was explained in a press release as being “Currently, ocean freight rates continue to be below the required level to cover basic operating costs or transportation…

Zim shipping, the Israeli based carrier, announced earlier this month that it is to implement a General Rate Increase (GRI) of $750 per TEU on the India-Europe trade lane. This rate increase will be implemented from tomorrow, March 1^st.

The Zim press release also stated “The GRI applies to all westbound cargo from Asia and Indian sub-continent to North Europe, West/East Mediterranean (including Israel) and Black-sea region.”

Zim also said that the rate increase was necessary in order to maintain their current levels of service and reliability.

Zim shipping, founded in 1945, has grown to be one of the world’s…