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Freight Market Update: August 26, 2022

Containers on a cargo ship

Ocean freight market update

China-North America

  • Rate changes: The freight rate in general decreased in the second half of August.
  • Policy changes: Rules and regulations changes are underway in regards with the U.S. shipping reform. It is evident that Federal Maritime Commission (FMC) is taking a much more proactive role in investigating carrier behaviors, establishing rules in governing fairness in various charges, and enforcing carriers obligations to support U.S. trade(especially exports)under the new law. Among the new law’s most significant implications, the legislation shifts the burden of proof to carriers in the case of disputes, which benefits shippers who did not file complaints due to this burden. The eventual impact of the Ocean Shipping Reform Act (OSRA) depends largely on FMS’s enforcement activities under the agency’s newly expanded power.

Air freight/express market update

China-North America

  • Rate changes: In the second half of August, the freight rates of UPS Saver (Premium) and HKUPS Saver (Premium) had a minor decline in their high kg sections.
  • New services available: Parcels (Economy) can deliver to Mexico.
  • Cargo types: General cargo.
  • Estimated transit time: 11-16 work days. (The estimated transit time refers to the length of time from when a package leaves the warehouse at the origin to its successful delivery in the destination country.)
  • Recommendation: Parcels (Economy) charge by the grams. The minimum weight is 50g, and the DIM factor is 8000. This logistics service is recommended for small-size shipments that are sensitive to shipping costs but are not sensitive to the transit time.

China-European

  • Rate changes: The freight rate of Freight via JL (Economy) and ARAMEX (Economy) in general decreased in the second half of August. 

Disclaimer: All information and views in this post are provided for reference purposes only and do not constitute any investment or purchase advice. The information quoted in this report is from public market documents and may be subject to change. Alibaba.com makes no warranties or guarantees for the accuracy or integrity of the information above.

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