Ocean Freight rates – Asia-Pacific exports
The liner market is creeping up to what would normally be a peak season and, following a period of ‘disrupted’ but essentially ‘functioning’ main ports around the globe, port congestion is once more hitting the industry. Unlike in ‘normal’ years, 2021 will not really have a ‘peak season’ in the traditional sense since the liner market is already sold out and carriers are largely unable to procure the additional tonnage that would be needed to launch any real peak-season service programs. The below outline market outlook for ocean freight rate for Asia Pacific exports:-
ASPA-EURO (Asia Pacific-Euro)
The market remains strong and the tight space situation persist in September. Vessels delays continue to lead to port congestions and tight equipment situation.
ASPA-AMNO (Asia Pacific-North America)
Rates are expected to be on the upward trend in September as space and equipment remain tight. Some carriers have started to charge congestion surcharges at destination due to congestions issues and chassis shortages at ports and inland rail ramps.
ASPA-AMLA (Asia Pacific - Latin America)
Utilization is over 100%. The trade is also experiencing equipment issues. NOR need to be considered as an alternative. Further rate increases into ECSA similar to WCSA/MEX levels at 5 digits per container. Free time demurrage at POD cut to historic short time levels. Premium rates ensure smoothest uplift.
ASPA-MENAT (Asia Pacific-Middle East & North Africa)
Equipment shortage is a major concern for carriers. While the gulf and East MED trades are fairly stable from space point of view, Africa market is strong and space has become a major concern. Need to place bookings 3-4 weeks in advance and persistency is the key to succeed the movement.
ASPA-ASPA (Asia Pacific- Asia Pacific
Space and equipment shortage at Asia ports remains for the month of September. Delays are expected as schedule reliability at all-time low. Accurate forecast and 3-4 weeks advance booking remain a necessity in the current market. For IPBC, reduction of capacity in September expected due to multiple fortnight blank sailings in August. Advance booking of at least 4 weeks remains a necessity.
Source: DHL
https://www.dhl.com/content/dam/dhl/global/dhl-global-forwarding/documents/pdf/glo-dgf-ocean-market-update.pdf
