North American Market:

Affected by the weak market cargo volume, short-term freight rates of shipping companies at the end of April will be basically maintained at the same level until mid-May. Whether there will be another wave of GRI afterwards remains to be seen. After the Labor Day holiday, the market demand is weak and shipping capacity is abundant. Blank sailing accounts for about 15% of the total capacity in the next two weeks. The Panama Canal enters its dry season, and shipping companies have stricter restrictions on goods shipped via the Panama Canal to the US East Coast.

North American Market:

In terms of short-term freight rates, South America West maintains an upward trend, while prices in South America East are expected to fall slightly. After mid-May, the demand of gaining momentum in South America West is still strong, and spaces are relatively tight. It is recommended to place the order at least 2 weeks in advance. The momentum in South America East is slowing down, and the spaces are relatively sufficient. In the next two weeks, only the South America East route has a plan for suspension, which affects about 10% of the total capacity. Some European shipping companies still face tight inventory of small containers and cold storage. Argentina's imports are troubled by exchange rate problems, and the order volume is expected to be affected to some extent.

Europe & Mediterranean Market:

Blank sailing of the Mediterranean routes account for approximately 9% and 11% of the total capacity respectively in the next two weeks. Currently, the Mediterranean routes are still stable at a high level, with overall cabin space tight. It is recommended to book cabin space at least 2-3 weeks in advance. Short-term freight rates will remain stable before mid-May.

Article source: KuehneNagel