International shipping and logistics market update - Week 37/2022

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International logistics and container shipping market update on Asia, Europe and North America routes in the week of 37/2022.

Shipping & Logistics Market Update - Phaata

International shipping and logistics market update (Photo: Phaata)


1. Asia - North America route


Transportation demand was reduced that caused freight rates to continue to fall this week. Forecasting transportation demand on the Asia-North America route before the Golden Week event in China is an issue that is being raised this year due to the continuously declining freight market.

The number of blank vessels continued to dominate the market in September and October as carriers sought to reduce the total number of vessels moored at ports, particularly, in the port of Savannah at US East Coast port of (USEC) and the port of Houston in the United States Gulf (USGC).

The Port of Vancouver on Canada's West Coast has been already operating at near full capacity and causing delays for ships entering the port of Vancouver. The total number of ships waiting to dock at the port is now 18 ships, an increase of 3 ships compared to last week. Port congestion and road traffic congestion continue for a week, but generally have fallen from the peak this past summer.

Despite better rates, the rate of blank vessels, port congestion, and delays between shipping modes in the US continue to affect schedule reliability.

- Freight rates: Freight rates from Asia to the West Coast of North America this week fell sharply by 9.58% compared to the previous week, to USD 4,324/FEU. This rate is down 28.66% month over month, according to Xeneta data.

- Space: Most are available

- Equipment: Improved

Recommendation: Shippers should continue to make reservations at least 2 weeks before estimated time of departure (ETD) for the best chance. For ready-made goods, importers may consider taking advantage of the available space and the plummeting spot market prices.

Freight rate Asia- US West Coast | Week 37/22 (Image: Phaata.com)


2. Asia - Europe route:


Without the rush to peak season before Golden Week as usual, demand has slowed. The shipping capacity in the market is still relatively tight due to the large number of blanked sailings, slided schedules and omitted ports.

Port congestion in Europe, especially Hamburg and Rotterdam, has reached a critical level causing further delays and delaying the return of ships to Asia. Various voyages are having to skip calls at Hamburg and divert to alternative ports.

In general, the market remained relatively stable without a big spike in output. There are still many uncertainties at the macro level such as the Ukraine conflict, high inflation across Europe, and falling consumer confidence.

- Freight rates: Freight rates continue to trend down. Freight rates from Asia to Northern Europe this week continued to plummet to $7,640/FEU, down 5.36% from last week and down 18.40% from last month, according to Xeneta data.

- Space: The space is starting to fill up again.

- Container equipment: Improved but still lacking in many Asian countries.

Recommendation: Shippers should make reservations at least 2 weeks before before estimated time of departure (ETD). Consider choosing a premium service and have the flexibility to choose replacement equipment when needed. Be flexible when planning shipments with anticipated congestion and delays.

Freight rate Asia-Europe | Week 37/22 (Image: Phaata.com)


3. North America - Asia route:


Ports in the East Coast region (USEC) continue to see challenges with vessel congestion and some shipping lines have dropped out of Charleston and Savannah ports.

Several shipping lines have announced that rail freight operations from Chicago across the West Coast have been improved and expanded to increase volume.

Erratic sailing schedules continue to pose major challenges.

For US West Coast ports (USWC), vessel arrivals and available capacity remained stable.

Possible strike action on rail lines this week has resulted in ocean carriers being prepared to immediately stop accepting dangerous and refrigerated goods when requested by rail companies. bridge.

- Freight rate: No GRI was applied in September. Shipping rates from North America to Asia this week increased slightly by 0.99% compared to the previous week, to 1,127 USD/FEU. This price increased 4.81% compared to the previous month.

- Space: Stable for West Coast ports, and has improved in US East Coast ports.

- Empty container equipment: The shortage of container equipment is still causing difficulties for goods transported from within the US, especially at major ports.

Recommendation: Shippers make reservations at least 4 weeks or more before estimated time of departure (ETD).


Freight rate US West Coast - Asia | Week 37/22 (Image: Phaata.com)


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Source: Phaata.com 

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