FEU rates above record

JOC's Bill Mongelluzzo, Senior Editor reports carries are imposing another general rate increase ( GRI) that could ripple through the US West Coast to record levels. Eastbound trans-Pacific shipping lines are warning Fowarders to prepare for a Sept. 1 GRI of $4000 per FEU. Which is unbelievable high compared to just a few months ago when imports signed services that ranged from $1,300-$1,600 per FEU.


The Scramble

Canceled Sailings have stopped and carriers have been adding unscheduled vessel departures from Asia, known as extra-loaders. In July, Port of Long Beach has gotten 11 extra loaders and 8 more coming in August. Retailers scramble to import PPE , office supplies, exercise equipment along with other e-commerce fulfillment. All this comes with a sense of urgency in the event the 20-25% tariff is reactivated.


This is an abstract of JOC's article "New GRI set to push Asia-US West Coast FEU rates above record high" posted Aug. 21, 2020.

Learn more about avoiding premium charges by contacting our Sales Team.


News

Featured News at a Glance

​What's to follow now the Suez Canal blockage is cleared?

The aftermath of the Suez Canal. What to expect? what are the coming challenges?

Read More

65 Ships Anchored in LA and LB Ports

Read More

Congestion Spread to NorCal

Oakland is starting to see a vessel jam

Read More

Good News: West Coast Congestion May Clear

Good NewsLos Angeles and Long Beach Ports congestion may be cleared by late spring!

Read More