During the end of last month, we confirmed lines are gearing up for a May Rate Increase.
The levels initially started at $1900 which would have been a hefty hike upwards (per 40ft) yet as predicted, the rate has not settled at that high level just yet, albeit an increase is here.
One thing is for sure, our predictions on market trends have a proven track record and this was confirmed again twice this week alone.
Rates are now sent to our clients with the relevant increase for May, yet we also warned there would be some cheap rates doing the rounds to be aware of.
There are blank sailings almost every week from one carrier or another, providing the set-out strains on vessel space. Over the past two weeks, and now with a Labour Day holiday in China to throw into the mix, we have indeed seen low rated cargo heading our way, pleading for space.
It's unfortunately not as simple as applying for space on something that's already pre-booked and full, and that's why we've created an explainer video to help show how this works (Coming soon).
The second prediction we made was also confirmed this week as stats were published from the Shanghai Rate Index, showing that freight rates so far this year are already 10% higher than those in 2018.
Rates are often thrown around that appear cheap, but the long-term consistent VIP rates are proving to be much better overall.
If you'd like to discuss further with one of the Westbound team, please do not hesitate to get in touch.