Freight Market Update | Week 38

OCEAN FREIGHT

Asia to North America (Transpacific Eastbound)

Traffic on the TPEB worsens as the number of vessels awaiting berths has surged in recent weeks.
This cycle of pile-ups worsening and improving is the new normal and is expected to last through the New Year and likely until inventories are sufficiently replenished.
October 1 GRI implemented by most carriers.
Shippers and importers continue to pay all-time high premium prices in order to get urgent cargo moving in time for the holiday season.
Capacity is critical, severe undercapacity.
Encourage suppliers to support departures from different origin ports.
4-6 weeks booking in advance is recommended.

North America to Asia

Space continues to be tight for USWC POLs.
Capacity more readily available from the USEC to Asia, however, port congestion continues to increase.
Availability for standard equipment at ports has not been an issue, but any special equipment is hard to come by.
Multiple GRI’s announced for dry and reefer cargoes on Oct 1 and Oct 15 expected to be implemented.
Book 4 to 6 weeks in advance.

North America to Europe

US West Coast service to Europe is very tight.
Available capacity on the TAEB trade with carriers looking for cargo from the US East and Gulf Coasts.
Rates remain steady into October.
Deficits are still plaguing IPI origins.
Book at least 3 to 4 weeks in advance for East Coast/Gulf sailings and 4 to 6 weeks for Pacific Coast sailings.

Europe to North America (TAWB)

Terminal congestion along the US East Coast is creating a cascade of delays in vessel schedules.
Capacity remains tight for both North Europe and Mediterranean services.
October 1st GRI implemented.
Book 5 or more weeks prior to CRD.Request premium service for higher reliability and no-roll guarantees.

Asia to Europe

Space and equipment crunch continues, market demand exceeds supply.
Overall space situation is worsened by blank sailings and poor equipment availability.
Rates remain at a record high level going into a marginal increase in October.
Capacity is extremely critical.
Severe equipment shortage across all Asia origins.
Book at least 4 -5 weeks in advance, consider premium options.

India to North America

Global port congestion is challenging the repositioning of equipment and available ocean carrier capacity.
Space remains a challenge as global congestion is resulting in omissions and altered sailing schedules
Equipment of all types are in deficit.Local governments are looking internally to create monetary incentives to attract ocean carrier support.
Rates Increased for 1H October
Use premiums on urgent shipments and shipments with CRD approaching.

North America to South America

The American supply chain is struggling to adapt to a crush of imports flooding major gateways.
October GRI implemmented.
Equipment deficit on special containers, book prior to estimated departure date.
Book at least 3 to 4 weeks in advance.

Asia

Capacity in the market continues to be tight and several carriers have canceled flights as a result of numerous flight re-routings to HKG caused by increased Covid cases in China.
TPEB and FEWB rates continue to climb in the lead up to Golden Week, and shippers are rushing to ship out their cargo before the holiday.
Capacity to the USWC and USEC capacity is very congested.

Europe

Some delays for import and export cargo due to high volume experienced at ground handling terminals.
Rates still have remained steady as there is enough capacity to meet demand.
Place bookings at least 7 days ahead of CRD for most optimal rates and routing solutions.

Americas

Export demand remains steady and stable.
Some capacity constraints are reported, but still manageable.
Larger shipments from major outbound gateways can take 2 to 4 days from booking to uplift into the EU, LATAM, or Asia.
Book early considering the dwell time at airports.