Transpacific ocean carriers are vying for a September general rate increase (GRI) for cargo shipments to the U.S. With solid bookings extending into the week of August 24, carriers will try to secure a USD $600 per FEU GRI with an effective date of September 1, 2014. Additionally, carriers intend to charge an unspecified September 15 peak season surcharge. Space remains tight on cargo bound to the U.S. East and West Coasts.
Many shippers previously diverted cargo from the U.S. West Coast to the Canadian West Coast out of concern for a potential West Coast labor strike. Labor negotiations between the International Longshore and Warehouse Union (ILWU) and their management have been ongoing and promising. Heavy congestion at the port of Vancouver diverted cargo bound for the U.S. via Vancouver to U.S. West Coast ports. As a result, bookings for the U.S. West Coast steadily grow.