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Posts tagged “Asia - Europe Freight”

 
Ports prepare for Suez surge 
 
Following the refloating of the 20,000 teu Evergreen containership ‘Ever Given’ that has been blocking the Suez Canal for the best part of a week, attention is now turning to the surge of imports that are due to arrive at Europe’s shores as a backlog of vessels begin to transit the canal. 
 
Among those ships that have been waiting to transit the canal are 100 containerships with an aggregated capacity of 1m teu, according to figures from Lloyd’s List Intelligence. While some of that cargo is outbound or empties, on average 52% of canal capacity each week is northbound to Europe. 
 
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No let-up expected in buoyant air cargo market 
 
High demand will continue to buoy air cargo charter activity over the next few months, consolidating the strong start to 2021, although prices may cool somewhat from their current high levels, according to a leading air freight broker. 
 
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Asia-Europe ocean freight markets show signs of slight easing 
 
Forwarding and other freight sources report some easing of ex-Asia ocean freight markets in the last three or four weeks, including reductions in pricing from China, better availability of containers at origin, and some easing of congestion in destination ports. But some believe it may be ‘the eye of the storm’, with more disruptions to come as recently blanked services come back on line. 
 
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Asia-US air freight rates drop but stay firmer to Europe 
 
Asia-US air freight spot prices have begun to fall in the weeks since Chinese New Year (CNY), but they appear to be holding relatively firm from China to key destinations in Europe, according to figures from TAC Index and the Baltic Air Index (BAI). 
 
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Higher contract rates ahead as shippers seek security 
 
Contract freight rates have risen sharply and could well remain high for the remainder of 2021 and beyond, as shippers that had successfully played the spot market in the past have been hit hard by the recent ocean supply constraints and now seek longer-term commitments. 
 
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Ocean freight rates set to stabilise but at high levels 
 
Ocean freight rates on transpacific and Asia-Europe trade lanes soared on sustained demand and a shrinking pool of available, empty containers last year but the weeks to come are set to bring a stability in prices while remaining at relatively high levels, according to expert and industry sources. 
 
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Box port delays causing service cancellations 
 
Major global container lines are being forced to cancel significant numbers of east-west services due to exceptionally long delays to vessels caused by congestion in Asian and North American ports. 
 
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Ocean freight issues adding to squeeze on air cargo capacity 
 
Shortages of containers and capacity for ex-China exports plus vessel schedule disruption are continuing to drive modal shift to air, adding to a squeeze on air freight capacity already stretched by buoyant demand. 
 
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Record Asia-Europe ocean freight rates rise further 
 
As prices soar to multiple times their normal level, further hikes are expected later this month, with equipment shortages, port delays and lack of capacity set to continue right up to lunar new year in mid-February
 
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China to tighten inspection on box shipping carriers’ pricing practices 
 
China’s Ministry of Transport has defended carriers’ reasoning when responding to a shipper’s complaint about skyrocketing container shipping costs, but has said it will tighten its scrutiny on carriers’ pricing practices. 
 
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