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Ocean freight rates fall below pre-pandemic rates
Freight advisory information
Ocean freight rates fall below pre-pandemic rates
Finally, we have some positive news to report, with all the doom and gloom surrounding the cost-of-living crisis, inflation and interest rates to name but a few, within the last two months we have seen ocean freight rates fall to pre-pandemic rates and the forecast is that shipping lines will make further reductions.

Inevitably, as rates were so high for so long, importers and exporters alike have been reluctant to place orders. It is hoped, that even though the dollar is very strong, the ocean rates are expected to hit sub $2000.00 for a 40ft container by the end of the year will give importers the confidence to start importing once again.

The shipping lines offered no relief to importers during the height of the pandemic, and maybe the downturn in ocean import bookings may just be the kick that shipping lines have needed to reduce rates and keep them low, or at the very least a more sustainable level where everyone is happy. We all know what they say about karma!

To take full advantage of the low rates on offer and see how they compare against your current forwarder. Please email  [email protected]

The China market also offers a prepaid option which, over the last two years has been more cost-effective than the UK contracted rates. These rates can offer even further reductions; however, credit terms must be limited to payment of freight on arrival.

JAG UFS rates will ALWAYS reflect current market conditions, so as soon as reductions are made, these are automatically passed on.

I would like to personally thank all our valued clients for their continued loyalty and support. Equally, to potential clients, we would welcome the opportunity to show how JAG UFS are different to your current logistics provider, with customer service being always key.

Gary Wilcox

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