International shipping and logistics market (updated week 28/2021)

Update the international shipping and logistics market for the week of 28/2021 (Photo: Phaata)

1. Shipping route: Asia → North America
 

The peak season is approaching and the transport / logistics service providers are preparing to increase their prices further. Shipping lines are having trouble with space as capacity cannot grow fast enough to keep up with demand forecasts.

Persistent congestion, overdependence on key gateway ports, labor disruptions related to Covid-19 and overload of infrastructure have created challenges for the market.

Tensions on intermodal rail are still severe and are expected to get worse, according to carrier forecasts.

Shipping rates: The General Rate Increase (GRI) surcharge applies from 15 July.
Space: Lack of seriousness
Container equipment: Serious lack

Recommendations:
Shippers should book at least 4-6 weeks in advance of the scheduled departure date to have the best chance of the goods being shipped on time.
-Consider suggesting service providers to assist in receiving goods from different locations.
-Consider delivering at seaports instead of inland to avoid connection delays between shipping methods.

2. Shipping route: 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.

Shipping rates: Increase sharply from 1st July and increase further on 15th July.

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 guaranteed service and have the flexibility to choose replacement equipment when needed.

3. Shipping route: North America → Asia
 

Train delays and cancellations have continued to reduce 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.

Find Vietnam freight rates here.
 
Find Vietnam Logistics Company here.
 

Phaata wishes you successful business!

See more:

Source: Phaata.com
Phaata - The first international logistics marketplace in Vietnam
► Where Shippers & Forworders connected fast!