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International shipping and logistics market update - Week 5/2023
International logistics and container shipping market update on Asia, Europe and North America routes in the week of 5/2023.
Phaata International shipping and logistics market update - Week 5/2023 (Photo: Phaata)
1. Asia - North America route
- Freight rates: The freight rate from Asia to the West Coast of North America in the week 5/2023 dropped sharply to 1,392 USD/FEU, equivalent to a decrease of 11.39% compared to the previous week and a decrease of 8.66% compared to the last month, according to Xeneta data.
- Space: Available. Capacity is forecast to increase over the next few weeks and more train cancellations are likely in the near term.
- Equipment: Available
Recommendation: Bookings should be booked at least 2 weeks in advance of the scheduled departure date (ETD). Shippers note flexibility in shipping plans when there are frequent blank sailings recently.
Asia- US West Coast Freight rate | Week 5/2023 (Image: Phaata.com)
2. Asia - Northern Europe route:
- Freight rates: The freight rates from Asia to Northern Europe in the week 5/2023 fell sharply to USD 1,651/FEU, equivalent to a decrease of 7.61% compared to the previous week and a decrease of 17.90% compared to the previous month, according to Xeneta data.
- Space: Generally available, despite the impact of blanked sailings and vessel delays.
- Container equipment: Most are available.
Recommendation: Shippers should be flexible in planning their shipping when congestion and delays occur. In addition, shippers should also note that many blank sailings today.
Asia-Northern Europe Freight rate | Week 5/2023 (Image: Phaata.com)
3. Northern America - Asia route:
Spaces are available on all of these route services. Supply capacity has outstripped demand and shipping lines are trying to find cargo to transport.
All services to the Asia Pacific (APAC) region have very low capacity utilization, with no space restrictions. Congestion has been cleared across most North American container yards thanks to improved operations due to less demand.
Capacity on the North America-Asia route in Q1 is forecast to remain the same. With the agricultural season in North America starting in Q1, demand is likely to pick up in the near future, but even with that peak demand, supply outstrips demand.
- Freight rate: Freight rates from North America (West Coast) to Asia in the week 5/2023 decreased by 2.40% compared to the previous week, to USD 1,015/FEU. This price increased by 0.98% compared to the previous month.
- Space: There is no big change in capacity in the market with very few blanked sailings as carriers prepare for the Lunar New Year. Stable for West Coast ports, and has improved in US East Coast ports.
- Empty container equipment: Container equipment is mostly available.
Recommendation: Shippers should make reservations 1-2 weeks before the estimated time departure (ETD) for direct services at major ports. Make reservations 2-3 weeks in advance for inland services in the US or transshipment services on this route.
US West Coast - Asia Freight rate | Week 5/2023 (Image: Phaata.com)
4. Northern Europe-Asia route:
- Freight rates: Freight rates from Northern Europe to Asia in the week 5/2023 fell sharply by 10.66% compared to the previous week, to USD 570/FEU. This price decreased by 11.49% compared to the previous month.
- Space: Generally available, despite the impact of blanked sailings and vessel delays.
- Container equipment: Most are available.
Recommendation: Shippers should take note of flexibility in their shipping planning when upcoming congestion and delays are expected.
Northern Europe - Asia Freight rate | Week 5/2023 (Image: Phaata.com)
Find Freight rates here.
Find Logistics Companies here.
Read more:
- Asia-Europe route: 27% of container vessel sailings canceled in first seven weeks of 2023
- MSC, CMA CGM, Evergreen and ZIM to have strongest growth in 2022
- Maersk and MSC to end 2M Alliance in 2025
- World containership demolition volume falls to 17-year low in 2022
Source: Phaata.com
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