Rates: the eternal tango Archives - The Loadstar

‘Desperate’ GRIs by carriers prop up Asia-Europe spot rates, for now

Gavin van Marle — Fri, 01 Nov 2024 13:39:54 +0000

Container shipping lines on the main east-west trades this week managed to reverse 15 weeks of consecutive declines in spot freight rates by managing to push through a general rate increase on ex-Asia loadings.
This week’s Drewry World Container Index (WCI) saw the spot rate on the Shanghai-Rotterdam leg rise 8% week on week, to $3,396 per 40ft, while the Shanghai-Genoa leg grew 11%, to $3,648 per 40ft.
One European forwarder told ...

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Airfreight rates ex-Asia still rising, but ‘no drama’ in a better prepared market

Alex Lennane — Fri, 01 Nov 2024 12:55:12 +0000

Forwarders and data providers are reporting increasingly high airfreight rates out of Asia, expected to hit a new level at the end of November. But the market is not anticipating a ‘crazy’ peak.
Worldwide, air cargo spot rates rose 5% in the last week of October, from a week earlier, with origin Asia Pacific up 3%, Europe up 7% and Central and South America up 8% – although global tonnages remained ...

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Carriers may have ‘overshot’ on capacity and will need to blank more sailings

Gavin van Marle — Fri, 25 Oct 2024 11:54:05 +0000

Container spot freight rates on the main export routes out of China continued to fall this week, with declines seen on both the transpacific and Asia-Europe trades.
The trend of declining spot freight rates was bucked, however, on the transatlantic, where Drewry’s World Container Index (WCI) recorded a 28% week-on-week increase, to $2,663 per 40ft, on its Rotterdam-New York leg.
And the backhaul New York-Rotterdam leg price rose 4%, to $761 per ...

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The absurdly simple freight rate shipping cycle – except when it’s not

Gavin van Marle — Fri, 25 Oct 2024 11:30:05 +0000

The economics of the container shipping industry are absurdly simple – just supply vs demand.
What is so fiendishly difficult is judging how much of either factor there is. And not just in pure numbers, but in the way that external factors such as strikes and storms; congestion and conflict can hugely influence not only levels of supply and demand, but the perception of those levels.
This gives the sector the weird ...

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Freight rates on major ocean trades out of India continue to slide

Angelo Mathais India correspondent — Thu, 24 Oct 2024 12:13:11 +0000

There seems to be no immediate halt to the freight rate slide on the larger tradelanes out of India, as head-haul volumes for container carriers remain increasingly tight, say industry observers.
Spot rates on the India-US east coast trade have plunged below $3,000 per teu from a high of more than $10,000 three months ago in July.
And rates on India-Europe routes have more than halved in two months, down ...

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Rates still slipping as peak season recedes and port strike threat subsides

Charlie Bartlett technology editor — Fri, 18 Oct 2024 11:12:57 +0000

Freight rates are continuing their downward correction following the premature peak season and front-loading of volumes, leaving shipping lines facing an underwhelming winter.
The Drewry World Container Index (WCI) this week continued its drastic downward trajectory, established in July, reaching $3,216 per feu, demonstrating that Cape of Good Hope transits are now a matter of routine. New tonnage is constantly hitting the water and the decision of whether port workers on ...

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Passenger rush to attend festivals puts a strain on India’s air cargo flows

Angelo Mathais India correspondent — Fri, 18 Oct 2024 10:27:14 +0000

Indian air freight forwarders and shippers are reporting a severe strain on airline bellyhold capacity, due to festival-linked passenger traffic.
Various Indian Hindu festivals run between September and November, with Diwali – the festival of lights — the biggest celebration, starting on 31 October.
Industry sources complain that the cargo capacity crunch is seriously impacting supply chains, especially time-sensitive or perishable cargo movements.
“With the festive season in full swing, the surge in ...

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Freight rates will stay high next year – no respite for shippers, predicts Drewry

Charlie Bartlett technology editor — Thu, 17 Oct 2024 12:24:10 +0000

Some three million teu of new tonnage arriving next year will most likely be “more than offset” by further market disruption, ensuring no respite for embattled shippers, according to Drewry.
As the prospect of more US east coast port strikes remains uncertain, the maritime consultancy drew up scenarios with a strike in January and without one, and found that in both models, freight rates would continue to rise.
Port strikes “will have ...

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Spot rates ex-Asia still falling, despite USEC congestion, with more blanks

Gavin van Marle — Fri, 11 Oct 2024 12:34:26 +0000

Container spot freight rates on the main trades out of Asia continued to fall this week, as the resumption of operations at US east and Gulf coast ports eased industry congestion fears.
Nonetheless, the three-day stoppage by ILA members ensnared up to 70 vessels in the region, leaving an inevitable backlog that will take time to clear – estimates vary from “a matter of days” to “two or three weeks”, although ...

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Air cargo spot rates hit 2024 peak, while Vietnam becomes a hotspot

Alex Lennane — Fri, 11 Oct 2024 10:57:14 +0000

Air cargo spot rates have risen to their highest level this year, despite the recent Golden Week holiday in China.
Tonnages fell by 7% week on week out of Asia Pacific, in the week to 6 October, WorldACD said. But worldwide spot rates went up +1% in the week to $2.84 per kg – their highest level this year.
Asia Pacific rates rose 1%, while Africa was up 2% and Central and ...

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