Posted: Friday 29th July 2016

Westhaven Blog - Ocean rates rise & fall

Over the last year or so the team at Westhaven have been watching with amusement the antics of shipping lines who have been scrambling to protect market share and increase revenue, especially on westbound Asia to Europe routes.

We have become used to receiving notices about the imminent introduction of General Rate Increases of around $350 - $450 per TEU - only to see rates drop back to the same levels as before. We honestly can't understand how the lines expect to have any chance of imposing such ridiculously high increases at one fell swoop, then without any apparent shame or embarrassment, forgetting them and returning to previous levels.

Of course, Supply and Demand are, as ever, the main drivers. The lines can't do much about Demand, but they might take a more measured approach to managing Supply, even more so at a time when they are making matters even worse for themselves by introducing more capacity.

 

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