Are sea freight from Asia to Latin America going to rise again?

Are sea freight from Asia to Latin America going to rise again?

A General Rate Increase (GRI) from Asia to the West Coast of South America, Mexico, Central America and the Caribbean is coming up.

This GRI will apply to cargo transported in 20’ and 40’ Dry containers, including High Cube equipment and 40’ Non-operative reefers. This GRI will apply from August 28, 2024 for all the destinations in this announcement, with the exception of Puerto Rico and the US Virgin Islands where it will apply from September 13, 2024. Please keep in mind that this GRI will be valid until further notice.

The details for this increase are listed below:

20' Dry Container: USD 2000

40' Dry Container: USD 2000

40' High Cube Container: USD 2000

40' Non-operative Reefer Container: USD 2000

For your reference, the geographical scope of this increase is explained below:

From Asia, covering the following countries: China, Macau, Taiwan, Japan, South Korea, Thailand, Singapore, Vietnam, Cambodia, Philippines, Indonesia, Myanmar, Malaysia, Laos, Brunei.

To the West Coast of South America, Mexico, Central America and the Caribbean covering the following countries: Mexico, Ecuador, Colombia, Peru, Chile, El Salvador, Nicaragua, Costa Rica, Dominican Republic, Jamaica, Honduras, Guatemala, Panama, Venezuela, Puerto Rico, US Virgin Islands.

According to past experience, September to December is the peak purchasing period of the year. Demand is strong during this period. In addition, due to the recent impact of exchange rates, product prices are rising. If shipping costs continue to rise, the entire procurement cost will increase. Therefore, it is recommended that customers in South America make procurement plans in advance. If you have a definite procurement plan, please be sure to advance the procurement plan. We will ensure the fastest delivery time.