North American Trade Lane:

The freight rate to West Coast continued to decrease slightly while it is relative stable in terms of East Coast. The supply and demand of shipping spaces are generally balanced. The overall stowage rate is maintained in a comfortable level. The water level of the Panama Canal keeps declining, as a result, the vessel transit efficiency is getting lower.

Latin American Trade Lane:

Despite Zim shipping Lines have increased direct vessels, the spaces to East Coast are remaining tight, as the limited amount is hard to meet the market demand; the freight rate remains stable with minor fluctuations. Spaces to West Coast may tend to tight from previous loose condition as it is coming to the end of Nov. Some shipping companies have announced a increase of rate as of 1 Dec. Individual European shipping companies are facing tight inventory of 20 GP and reefer and some have declared the suspension of NOR (non operating reefer) booking to East Coast. Some shipping lines have imposed additional EFC surcharges for Manaus cargos base on LWS (low water surcharge) due to the worse water level of Amazon river.

Europe & Mediterranean Trade Lane:

Europe: The SCFI index continued to decline slightly, the overall market cargo volume is still flat, due to the blank sailings and GRI announced by shipping lines, the stowage rate is almost full in late November; supply of of empty containers is sufficient except 20 GP in individual shipping companie.

Mediterranean: Freight rate dropped slightly and may last stable in the 2H of Nov, shipping lines start to increase the blank sailings. However, major shipping lines plan to jack up the rate in Dec, affected by the disclosed information, the spaces tend to be tight again in late Nov. Inventory of 20 GP and reefer is relative tight, some intermediate ports are suffering light congestion due to the rebound volumes and demands in Turkey ports.

Article source: KuehneNagel