Shipowners attempted record number of rate increases

Container carriers on Asia-Europe attempted 13 general rate increases in 2015 at completely unrealistic levels, and this had the exact opposite effect than desired. An unprecedented frequency, notes Alphaliner.

Photo: POLFOTO/AP/Eugene Hoshiko

13 times, or more than once a month, container carriers on the major routes from Asia to Europe attempted to implement general rate increases (GRI) of USD 300 to USD 1,200 per teu.

This scope of the carriers' more or less desperate attempts at raising the rate levels is unprecedented, notes Alphaliner in its latest newsletter, and the analyst agency concludes that the frequency of the carriers' unrealistic rate increases had the exact opposite effect, instead sending the container freight rates down to an all-time low level of around USD 100 per twenty-foot container, teu. In other words, customers completely ignored the announced rate increases.

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