Ocean Rates From Asia Look Set To Increase

Ocean freight rates from Asia look to be set for a series of increases in the build up to the traditional peak season period.

Steamship Lines have been managing space availability for most of this year, to align with the lower levels of demand from the region. The pre-planned blanking of voyages has now positioned them to increase the rock bottom rate levels, as demand has recently outstripped the adjusted capacity issues.

Ocean freight rates on services from Asia to Europe and from Asia to North America are believed to be set for incremental increases from now, which may continue through the coming weeks.

BAF levels may also be about to rise, following a coalition of oil-producing countries deciding to cut output at the weekend, which in turn has led to a spike in Brent crude oil prices.

Croft Cargo are monitoring the situation and will update clients as rate adjustments materialise.

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