Freight rates are rhythmical. When carriers are able to fill the vessels, shippers beware. Ocean Freight Rates follow the strengths and weaknesses of the economies of the countries the carrier service.
Most Asian economies are strong; vessels leaving Pacific Rim countries are filled with Ocean cargo. Therefore ocean freight rates tend to be much higher coming from the Pacific and into the USA, because a large number containers are going back to the Pacific Rim empty.
Carriers are charging premiums for space on their vessels and on the pier. They are advising their customers that they must pay more for freight through General Rate Increases (GRIs), surcharges and fees.
Here is a listing of some of the fees and surcharges that you might see in a quotation from a forwarder or customs broker or ocean carrier:
- Currency Adjustment Factor,
- Bunker Adjustment Factor,
- Origin and Destination Terminal Handling Charges,
- Peak Season Surcharge
- Automated Manifest Security Surcharge
- Congestion Surcharge,
- Bill of Lading Issuance Fees,
- Detention/Demurrage Fees, and
- Others, as applicable.
Ocean rates often fluctuate based on the market, the economy and the geographical location of the port. At HomeShipping.com we always advise our clients ahead of time of ocean rate fluctuating. Sea freight can be devastating if shippers quote the incorrect sea freight prices. Especially for multi-container deals. HomeShipping.com recommends that shippers always check back with us if a rate has expired. Keeping in mind that the ocean rates are usually valid for 30 days only.
Keep in mind that you can access our instant ocean freight calculator 24/7 to obtain sea freight prices from anywhere in the USA to worldwide destinations. Should you need more assistance, or have any questions, please feel free to contact us at 800-252-5262.
