The carrier's plans to increase freight rates from 1st March and 1st April were successful; the rates in place now are more than double what they were back in February. Although further increases are possible in June/July in the run up to the Peak Season, it remains to be seen whether the market can accept further increases, as this would potentially push rates up to the highest level on record.
Carriers are still reporting losses in the 1st quarter of this year, although this is to be expected due to the low rates for the first two months.
We will continue to monitor the market, and negotiate with approved carriers to ensure that our rates remain competitive, based on market conditions.
Contracts will be updated and distributed as soon as possible to take any changes into account for sailings from 1st June.