Freight Industry News

04/11/2009

The Government of China's US$586bn stimulus package continues to drive domestic demand leading to an increase in air and ocean freight rates out of China.*

In addition to the usual peak season surcharges, in the last two months UK importers have seen two general rates increases (October USD 200-350 per TEU and November USD 150-200 per TEU).

The competition for space is increasing steadily due to shipping lines moving vessels into dry dock during the peak of the global recession. This has led to many air and ocean carriers rolling over container loadings in search of higher spot rates now that the demand has increased.

Kevin Scuse, Operations Director of Genesis commented that "rates are changing on a regular basis both for Air and Sea freight movements from Asia. This makes quote validation and planning difficult. Genesis is working hard to ensure that clients are kept up to date with the changing market place."

Fortunately, Genesis has the strength and buying power to overcome the issues with capacity and will continue to ensure that our customers' freight takes priority wherever possible. Shipping lines are requesting 14 days notice for bookings and customers are advised to notify their suppliers on this. If you have any concerns over your up coming shipments, please do not hesitate to get in touch.

*Source: IFW

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Local News

Terminals must expand to avoid congestion Fri, 3 Sep 2010 11:32:59 BST Terminals must re-start expansion projects that were axed during the recession or terminal congestion could return Read More
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25th Anniversary Competition - August Winners Announced! Mon, 23 Aug 2010 00:00:00 GMT Genesis Forwarding Services would like to thank everyone who registered and entered our August Anniversary Competition! Read More

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