- Capacity and equipment availability is extremely tight out of all Asia ports
- Sailings are all currently booked out until mid-November
- Some carriers have implemented surcharges between $500-700 due to the demand, as well as additional surcharges for fixed loading
- Carriers are preparing a larger than normal number of roll-overs in the coming weeks and will continue blank sailings to maintain rate levels
- Southeast Asia origins are following a similar trend as China, which will create massive transshipment delays
- Carriers offering express options out of China are also starting to reposition equipment to Chinese ports, which is creating additional equipment shortages elsewhere
- India continues to suffer from container shortages, bringing ISC rates to an all-time high
- Regulatory bodies in India have gone as far as directly requesting carriers bring more empty equipment into the country
If you are experiencing challenges with your BCO contracts, there are alternatives to get your cargo moving. Please reach out to your local Masterpiece representative for viable solutions.
International trade in the European Union has yet to recover after the economic ravages of COVID-19 related industrial and commercial closures. Panjiva’s analysis of official data shows that the total merchandise trade fell by 4.6% year over year.
While intra-EU trade increased by 23%, there was a 15% drop in shipments to outside the EU. The latter marked a worse rate than that seen in the prior two months and included a 12% drop in exports to the U.K. and a 17% slide in exports to the U.S.
- Overall space remains tight and rates cannot be expected to move
- The UK port of Felixstowe has again had to revert to refusing to accept empty containers, in a continuing effort to clear its congestion backlog, causing further challenges to inland container operations already suffering from severe congestion
- Market rates are stable while carriers continue to have blank sailings through the end of the year
- Volumes are on an upward trend
- Vessels’ utilization is substantially increasing
- Rates were expected to increase as of November 1st
- Rates increased to all major airports in the US
- Carriers appear to be pulling scheduled PAX-flights again, further impacting capacity
- Remains very balanced between demand and offered capacity with no big spikes in demand
- Some PAX carriers are introducing new Freighters on select routes
If you have questions about how these market factors could impact your supply chain, please reach out to your local Masterpiece representative for more details.
Specialized machinery and parts require cautious handling, expedited transportation, or expert Customs compliance knowledge to deliver safely and on time. At Masterpiece, we work with cargo of all shapes, sizes, and types. Let us help you complete projectson time, get your manufacturing online sooner, and with the transparency you need.