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Dear Clients, Global spot ocean rates saw further moderate declines on the main East-West trading routes (i.e. China to Europe and China to the USA), due in part to lower volumes due to the Golden Week Holiday. Market conditions ex North and Southeast Asia into Australian ports saw a similar trend. However, with two Typhoons (Ragasa & Matmo) having rolled in back-to-back around the holiday period, shipping schedules were disrupted due to port closures in the South of China and we are seeing backlogs with most shipping lines. Not just in the South, but with many vessels starting rotations in the Nort of China, those services have disruptions also. We are now in the mad rush... The last push to have cargo booked and arrive prior to Christmas closures. Bookings can still be secured at short notice, but keep in mind that it may be at a higher price if short notice is given by your shippers. It's the same year after year now, with shipping lines taking advantage of the late rush and pushing pricing higher. GRI announcements No surprises here, carriers are adverting GRI's effective 1st November from North and Southeast Asia. Expect another announcement for the 15th November. Blank Sailings Blank sailings continue to be in the shipping lines arsenal for managing container supply to demand and thus rates stable. Already for the 2nd half of October and first week November. Singapore transhipment connections Most major shipping lines are reporting a 2 week roll over in Singapore with some even reporting 4-5 week delays. If you have cargo connecting via Singapore, do expect delays. We recommended that you try and avoid Singapore on bookings where possible (although its not always achievable), with direct sailings. What does "DIRECT SAILINGS" actually mean? It does necessarily mean the ship sails from PORT "A" to PORT "B" directly (although sometimes it can). It means that the ship does not call via a transhipment port where containers are offloaded from the first ship and then loaded into a second ship. Believe it or not, a 72-day transit from the UK into Fremantle is deemed "Direct" as once the container is loaded onboard the ship, it is not discharged until it arrives at its final destination, constituting a "direct" shipment. Gaza ceasefire Whilst welcomed news that Israel and Hamas have agreed on a ceasefire in Gaza, the leaders of the Houthi Rebels in Yemen have not agreed to any ceasefire on targeting some international ships in the Bab al-Mandab Straits. This effectively means, that in the short term at least, we don't expect to see the resumption of traffic via the Suez Canal. Should you wish to discuss any of these points, please don't hesitate to reach out to your key contact @ Transways Logistics International. |
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