The validity dates for rates from China ports to Australia and New Zealand ports have been adjusted to 15 - 21 December following internal corrections.
In a significant development, a proposed General Rate Increase (GRI) set for December 15th sparked intense debate among shipping lines last week. While some carriers were prepared to implement the increase, others opposed it. The market reached a consensus to delay the GRI by one week, ensuring current rates remain stable until December 21st.
Looking ahead, a modest rate increase is anticipated later in December, with a stronger adjustment likely in January 2025 due to heightened demand driven by the earlier Chinese New Year. Despite the seasonal slowdown, confidence in the shipping market remains strong, supported by increasing bookings and robust forecasts.