We are currently seeing a steep increase in ocean freight rates out of Asia, impacting international household goods shipments across multiple trade lanes due to a range of factors:

📈 𝗘𝗮𝗿𝗹𝘆 𝗽𝗲𝗮𝗸 𝘀𝗲𝗮𝘀𝗼𝗻. Retailers and manufacturers are shipping earlier than usual, increasing demand for vessel space.
⚓ 𝗣𝗼𝗿𝘁 𝗰𝗼𝗻𝗴𝗲𝘀𝘁𝗶𝗼𝗻. Congestion across major Asian and European ports is reducing effective capacity.
🌍 𝗠𝗶𝗱𝗱𝗹𝗲 𝗘𝗮𝘀𝘁 𝘂𝗻𝗰𝗲𝗿𝘁𝗮𝗶𝗻𝘁𝘆. Continued Red Sea/Suez disruptions mean many services still operate via the Cape of Good Hope, adding transit time and cost. While there are signs of improving conditions, carriers remain cautious
🚢 𝗖𝗮𝗿𝗿𝗶𝗲𝗿 𝗽𝗿𝗶𝗰𝗶𝗻𝗴 𝗮𝗰𝘁𝗶𝗼𝗻𝘀. Shipping lines are announcing General Rate Increases (GRIs) and Peak Season Surcharges (PSSs) for July.

As always, we continue to monitor market developments closely and will keep our clients informed of any significant changes.

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