Ocean carriers in the Trans-Pacific trade have announced rate increases effective Sept 1, 2020.
Rates to USWC ports will be increased by between $400-$450/container. IPI rate increases will also average between $400-$450/container while rates to USEC ports will be increased on average between $500-$700/container.
Vessel space on the Trans-Pacific continues to be extremely tight despite the suspension of most or all blank sailing programs. Most forecasters believe space will continue to be tight throughout the month of September and into October.
Worldwide Logistics continues to work closely with our carriers to ensure sufficient allocations are secured to accommodate the needs of our clients. Similarly, we will work to mitigate rate increases to the greatest extent possible.
Joe Monaghan, Worldwide Logistics Group President/CEO, said, “We recognize that no one likes paying more to move their cargo. That said, and even with rates at a historical high water mark, in a market like we are experiencing now our focus needs to be on securing space to meet our clients’ requirements.”
Worldwide Logistics will keep you informed as changes develop. Please contact your representative for further information or questions.