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Sea Freight Market Update (until early Nov)

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Sea Freight Market Update (until early Nov)

Date of release:2023-11-01 Author: Click:

North American Trade Lane:

The tight supply-demand relationship between shipping spaces and booking volume has eased, followed with the resuming shipping capacity recently. Shutting out of containers happens sometimes as the stowage rate remains at the high level. It is expected the freight rate will stay stable till the end of Oct. Main shipping lines have announced to increase GRI as of 1 Nov, the storage of containers in major ports are generally sufficient.

 

Latin American Trade Lane:

Affected by previous blank sailing, the spaces have been overbooked since late Oct, the shipping lines raised the GRI accordingly, the new rate may last until Nov. With the upcoming Chilean cherry season, shipping lines transported a large amount of reefer containers to the destination ports, which resulted in shortage inventory of reefer containers in loading ports, especially in North China. The shortage of 20containers continues in Xingang / Tianjin and Qingdao ports. Shipping companies raised the low water surcharge as the water lever situation of Amazon river getting worse.

 

Europe & Mediterranean Trade Lane:

Europe: The SCFI index increased slightly week on week, most shipping companies have announced a lift in freight rates from 1 Nov, however whether it can be maintained remains to be further seen, which could be affected by previous suspensions, the stowage rate of of some shipping companies increased at the end of October and some containers were excluded while the cargo volume in the market did not increase significantly.

 

Mediterranean: Shipping lines have announced an increase of freight rate to Mediterranean base port in Nov. Booking orders surged at the end of Oct. Stowage rate of the large ship companies was over 90%, almost full. However the market demand remain soft and the cargo volumes are partly shared by small shipping lines as they are operating express route.

Origin source: KuehneNagel

Traslated byY2EUR Logistics

The address of this article:http://en.y2eur.com/news/546.html

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