Failure of GRIs Means Tough Time for Carriers in New Contract Talks

Notwithstanding three attempts at GRIs (general rate increases) in 45 days, Asia-North Europe container spot rates have so far remained stubbornly low, which will make new contract negotiations onerous for carriers. Meanwhile, on the transpacific, there was more encouraging news for Asia-US carriers after a big splurge by American consumers on Black Friday, which, according to online data firm Adobe Analytics, saw $9.8bn of online sales, up 7.5% from a year ago (source: The Loadstar).