Is rate erosion easing?
Whether container spot rates have levelled off is still up for debate but analysis on the Transpacific and Asia - Europe trade lanes reveals rate erosion is beginning to ease.?
As the drop in rates is starting to bottom out, what does this mean for shippers?
A recent survey by Flexport has found that a third of Transpacific shippers had no plans to sign fixed contracts this year. This suggests that more shippers may be leaning towards the spot market a little more than usual.?
BCOs will need to make some decisions on what percentage of their volumes they are prepared to commit to carriers.
And how have ocean carriers reacted?
Ocean carriers have taken action to restructure their networks such as suspending the AE1/Shogun Asia-North Europe loop by the 2M Alliance, after blanking the service for consecutive weeks.
Industry experts have suggested signing contracts with carriers because if spot rates are too low, when capacity becomes tight again, these containers will be the last to be loaded.?
We understand that there’s been uncertainty around rates given this volatile and unpredictable period.?
Therefore, we’re offering 1:1 bespoke rate consultations to help you diversify and adapt your rate strategy. To book, please click this link.?
Asia?
China?
Ocean
After weeks of blanking the AE1/Shogun Asia-North Europe loop, the 2M Alliance have suspended this service.
Air
Central China to USA and Europe?
Space from SHA to Europe and the US is quite tight this week so rates have increased.?
From NGB to EU and the US, rates have increased this week.
North China to USA and Europe?
From TSN to Europe and the US,? rates are fluctuating this week.?
From PEK to Europe, rates are fluctuating and space is limited. For better rates, please book for 4-5 days in advance.?
From PEK to the US, rates are fluctuating this week and space is limited. For better rates please book 6-7 days ahead in advance.?
South China to USA and Europe?
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North America
USA?
Ocean
US container imports in February experienced a severe drop in volumes compared to the previous year.?
Europe
France
Ocean
In France, terminals are closed for 72 hours from 21st March to 24th March due to industrial action.?
Benelux
An update from Hapag-Lloyd on the ports in Europe include:
At the PSA terminal at Antwerp, yard utilisation at 913 is between 70-75%.?
At the AGW terminal, yard level is at 65-70%. Reefer plug capacity is between 60-65% and empty storage is at 80-85%.?
At the ECT terminals in Rotterdam, yard utilisation is at 60-65% and reefer plug utilisation is at 70-75%.?
At the RWG terminal, yard levels are averaging between 60-65% and reefer plug utilisation is between 50-55%.??
UK?
Ocean
The Transport Select Committee has published a report on the UK Government’s Maritime 2050 strategy.
Road/Rail