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Freight Market Update: November 15, 2022

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Ocean freight market update

China – North America

  • Rate changes: The peak season surcharge (PSS) and general rate increase (GRI) of Transpacific Eastbound (TPEB) are expected to increase.
  • Market changes: Congestions have been seen at major US sea ports and rail hubs, increasing the dwell times at Houston and Los Angeles/Long Beach. In Canada, port congestions and delays have been worsening.
  • Recommendation: Book your freight at least 2 weeks prior to the cargo ready date (CRD).

China – Europe

  • Rate changes: Freight rates are decreasing as a result of reduced demand.
  • Market changes: Space is readily available but schedule reliability is affected. European ports are struggling under severe delays. This situation also causes longer lead times for shipping vessels to return to Asia.
  • Recommendation: Set a buffer time when planning your shipments.

Air freight/express market update

China –America

  • Rate changes: The peak season surcharge (PSS) of Air Charter Express US (Premium) increased, and the general rate increase (GRI) remains unchanged. The freight rates of Freight via JL (Economy) decreased.
  • Cargo types: The minimum weight of Electronics Parcels (Standard), Electronics Parcels (Economy), Parcels (Standard), Parcels (Economy) has lowered to 10kg (from the previous 20kg).

China –Europe

  • Estimated transit time: For Truck+Express EU (Premium), congestions occur with Sino European Kaka Airlines due to border inspection at Polish ports, causing an estimated delay of 7-10 workdays.

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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