Various Market News
Please see some quick key points about the market conditions and news items from around the market.
If you would like to discuss any of these points in further detail, please feel free to reach out to the team at Transways Logistics International.
- DP WORLD AUSTRALIA - Ongoing industrial action is having an impact on schedules and trucking. This will take weeks to recover and we are starting to see shipping line schedules impacted in CHINA.
- DP WORLD MELBOURNE will not work on SUN 5th and TUE 7th (MELB CUP). This will effectively see 7 days work needing to be squeezed into 5 days, which will have an impact on all transport companies in MELBOURNE.
- SPACE ex CHINA - It's getting full. Shipping lines are advising to book min 2 weeks in advance with the seasonal surge of cargo movements well advanced. Yes there is still spot space available, but at what price. Please ensure to tell your shippers to book in advance.
- Qantas Freight Terminals - Air clients would be well aware of the massive delays incurred at Qantas freight over the past month. This is starting to ease, but Sydney in particular is being impacted.
- Freight rates - Have we seen them peak... possibly... possibly not. It will be interesting to see what carriers do for rates ex CHINA as with reduced capacity, scheduling issues, increased volume, they may look to increase again on 15th NOV and 1st DEC.
Sth East Asia rates are still relatively low compared to CHINA, expect some upward movements over the coming weeks as CHINA cargo will start to be moved via Sth East Asia ports, increasing the demand for space via ports such as Singapore, Port Kelang and Tanjung Pelepas.
- Quarantine Document Processing Delays - These are ongoing in the market and taking anywhere from 1 - 6 days pending the day and number of entries officers are needing to process. Please aid us in clearing your cargo, by providing accurate documentation as far in advance as possible.
- EUROPEAN UNION FREE TRADE AGREEMENT - Did you see the news, Australia has walked away from discussions, placing it on hold for a further 2 years it has been indicated. Therefore don't expect a EU Free Trade Agreeement any time soon.
- Chinese New Year - Friendly reminder it will on SAT 10th February 2024. We would expect space on ships to be full for majority of January up until this date.