Changing Trans-Pacific Market
For ocean freight shippers in the US, it is clear that the Trans-Pacific trade market is the most dominant trade lane. Supply chains of all sizes depend on the Trans-Pacific market for shipping. So when recent news of container freight shipping rate increases of up to $500 by January 15th 2014 emerges, this could alarm some shippers. However, it should be noted that there may not be an increase, and even if there is an increase, it might not be that much. Since carriers are required to give notice for rate increases, this type of news is more of a precaution than a definitive quote.
In general, the trans-pacific market is constantly changing, and shippers should be aware of that. Recently, the Journal of Commerce reported on the changing Trans-Pacific trade market in two articles. First, it appears that shippers demand better long-term eastbound rates that are based on the current short-term rates, and limiting shipping surcharges. Second, spot rates for NVOCCs (Non-Vessel Operating Common Carrier) will dominate the market due to current relationships and contract alterations. These stories are just a sample of the dynamic Trans-Pacific shipping industry.
When you are shipping ocean freight between the US and Asia, it would be very wise to work with a trusted Freight Forwarder. After all, the shipping market in the Trans-Pacific market is changing fast, and a trusted logistics provider can help you navigate the shipping rollercoaster. They can also provide excellent service and spot rates for shipping in various markets around the World.