Henning Harders Logistics Newsletter
Henning Harders
We provide reliable logistics & supply chain solutions to keep businesses moving forward.
Global Sea Freight market conditions are currently experiencing some disparity due to variances in market conditions across different regions.
In Asia, spot freight rates from China and Southeast Asia to North America and Europe have softened, however they remain considerably higher compared to historical norms.
It is notable to mention that in the Transpacific trade lanes there are significant rate reductions as demand for consumer goods declines in the USA and Europe, while Transatlantic routes are showing more stability, with rates showing some resilience due to consistent demand and limited capacity.
While from China to Australia there has been a significant surge in trade volumes this year and as per the port statistics it is clearly showcasing 2024 as the biggest year on record with the highest volumes in comparison to the last 5 years.
This remarkable increased demand has also co-incided with unprecedented disruptions largely attributed to the Red Sea Crisis which has led to rising port congestion, delays, and supply – demand imbalances.
领英推荐
The Oceania trade has been competing with the Transpacific trades for some time as record freight rates have been evident and therefore vessels on the Asia to Oceania routes have been downsized and deployed into these larger trades which represent higher revenue for the carriers.
Therefore, we will continue to see freight rates on an upward trajectory as shipping lines announce another increase effective 1st of September at a quantum ranging from USD 500 to 1000 per TEU on the routes from Asia to Oceania.
We have witnessed a wave of rate restoration announcements since January 2024, and this will be the 13th rate increase this year with more increases expected in the coming months as strong demand continues to outpace supply.
It will be crucial to allow for at least a three to four week booking window as Peak Season is well under way. This time frame ensures that there is sufficient time between receiving the order, placing the booking, and securing the vessel and equipment.