Carriers pull back on trans-Pac rate hikes following comments from Chinese ministry

Chamber of Shipping > Blog > News > International > Carriers pull back on trans-Pac rate hikes following comments from Chinese ministry

Cosco Shipping and OOCL have suspended planned Sept. 15 general rate increases (GRIs) on the eastbound trans-Pacific trade while other major container lines are pushing forward with GRIs that are slightly lower than they had announced. The changes come in response to comments from Chinese regulators, urging major container lines to add capacity and be less aggressive in raising their rates as US imports from Asia continue to increase.

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