International shipping and logistics market update - Week 4/2023

International shipping and logistics market update (Photo: Phaata)

1. Asia - North America route

- Freight rates: The freight rate from Asia to the West Coast of North America in this week increased sharply to $1,588/FEU, equivalent to an increase of 10.05% compared to the previous week and an increase of 6.08% compared to the previous month, according to Xeneta data.

- Space: Generally available, despite the impact of blanked sailings and delays.

- Equipment: Improved

Recommendation: Bookings should be booked at least 2 weeks in advance of the scheduled departure date (ETD). Shippers note flexibility in planning their shipping when upcoming congestion and delays are expected.

Asia- US West Coast Freight rate | Week 4/2023 (Image: Phaata.com)

2. Asia - Northern Europe route:

- Freight rates:  The freight rate from Asia to Northern Europe in this week decreased to 1,788 USD/FEU, equivalent to a decrease of 1.87% compared to the previous week and a decrease of 10.11% compared to the previous month, according to Xeneta data.

- Space: Generally available, despite the impact of blanked sailings and vessel delays.

- Container equipment: Most are available.

Recommendation: Shippers should take note of flexibility in their shipping planning when upcoming congestion and delays are expected.

Asia-Northern Europe Freight rate | Week 4/2023 (Image: Phaata.com)

3. Northern America - Asia route:

- Freight rate: Freight rates from North America (West Coast) to Asia this week increased slightly by 0.67% compared to the previous week, down to $1,040/FEU. This price increased by 0.87% compared to the previous month.

- Space: There is no big change in capacity in the market with very few blanked sailings as carriers prepare for the Lunar New Year. Stable for West Coast ports, and has improved in US East Coast ports.

- Empty container equipment: The shortage of container equipment is still making it difficult for goods to be transported from within the US, especially at major ports. Chicago remains the most reliable intermodal inland port (IPI) location. Kansas City and Memphis are seeing congestion related to container and trailer equipment challenges.

Recommendation: Shippers make reservations at least 4 weeks or more before estimated time of departure (ETD). For ready-made goods, importers may consider taking advantage of the available space and better spot market rates.

 US West Coast - Asia Freight rate | Week 4/2023 (Image: Phaata.com)

4. Northern Europe-Asia route:

- Freight rates:  Freight rates from Northern Europe to Asia this week increased sharply by 8.86% compared to the previous week, to 639 USD/FEU. This price decreased by 0.47% compared to the previous month., according to Xeneta data.

- Space: Generally available, despite the impact of blanked sailings and vessel delays.

- Container equipment: Most are available.

Recommendation: Shippers should take note of flexibility in their shipping planning when upcoming congestion and delays are expected.

Northern Europe - Asia Freight rate | Week 4/2023 (Image: Phaata.com)

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Read more:

• 2023 Lunar New Year in China, the worry of shipping disruption more than 2022
• Spot container freight rates stable but blanked sailings increased before Lunar New Year
• Spot container freight rates end a 43-week series of declines

Source: Phaata.com 

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