International shipping and logistics market (updated week 27/2021)

Update on the international logistics and container shipping market on Asia, Europe and North America routes in the week of 27/2021.

International shipping market

Update international shipping and logistics market week 27/2021 (Photo: Phaata)

1. Shipping route: Asia → North America (Asia - North America)

Market demand continues to be strong as summer arrives and begins to enter the annual peak season. Difficulties at ports and rail container terminals continue in various forms, from the closure of multiple container terminals in Seattle/Tacoma for one day to trailer shortages.

Freight rates: General Price Increase (GRI) surcharge applies July 1 1

Space: Serious lack

Container equipment: Serious lack

It is recommended to book at least 4-6 weeks before the scheduled departure date for the best chance.

2. Shipping route: Asia → Europe (Asia - Europe)

Empty container space and equipment continues to be in short supply. Market demand outstrips supply, leading to skyrocketing freight rates. The situation was made worse by canceled trains and shortages of container equipment. As a result, many shipments have to be dropped and cannot be exported.

Yantian Port is mostly back up and running but is still dealing with congestion and disruptions.

Freight rates: Sharp increase from July 1 above at all service providers. Rates are forecast to increase further on July 15.

Space: Serious lack

Container equipment: Severe shortage in all Asian countries.

It is recommended that shippers make reservations at least 4-5 weeks in advance of scheduled train runs. Consider choosing a premium service and have the flexibility to choose replacement equipment when needed.

3. Shipping route: North America → Asia (Northern America - Asia)

Train delays and cancellations have further reduced capacity. The U.S. West Coast is still heavily affected by this reduction in capacity loss. To cope with the congestion, some shipping lines have reduced the frequency of their calls to Oakland and Seattle.

The petrol surcharge (BAF) has been increased since July 1. A shipping line has announced its intention to apply a general price increase (GRI) surcharge in August for all dry goods exported to Asia.

Shipping space is scarce on both the West Coast and the East Coast of the United States. However, in the East Coast area is expected to improve further in the second half of July.

It is recommended that shippers make reservations at least 4-5 weeks before the scheduled departure date of the train.