The November GRIs for the Far East Asia - North Europe spot rates have made their presence known in the Xeneta platform.
Ocean freight rates in the Xeneta platform is showing an approximate 20%+ increase from October 31 - November 1 in the market average price of the Far East Asia - North Europe route spot rate.
We are still receiving a hefty amount of data from our users. We will keep monitoring the situation as the week progresses and see if these GRIs stick next week and on ward.
As we reported last week, we do anticipate for the overall market to trend upwards. With November's GRI for the European trade routes and the already announced December GRIs to affect the Trans Pacific and other Americas routes, the hope is that the health of the ocean freight industry sees better times as we enter 2017.
Make sure you stay ahead of the changing ocean freight market during your negotiations. Check out these 3 Questions You Need to Ask Yourself during your ocean freight negotiations.