Ocean freight market update
- Rate changes: With the lowering demand for Transpacific Eastbound (TPEB), the prices at all ports continue to decline, approaching the pre-epidemic level.
- Market changes: Although the overall TPEB supply continues to grow, port and rail congestions are still seen at major US gateways, increasing the dwell times at the Houston and Los Angeles/Long Beach ports. In Canada, port congestions and delays have been worsening.
- Recommendation: Book your freight at least 2 weeks prior to the cargo ready date (CRD).
- 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
- Rate changes：The freight rates of Ocean + Delivery US (Economy), Express via JY (Premium) decreased. The freight rates of UPS Saver (Premium), HKUPS Saver (Premium) of heavy goods above 20 kgs decreased. The freight rates of Freight via JL (Economy) increased.
- Rate changes：The freight rates of Express via JY (Premium) of goods below 20 kgs decreased. The freight rates of Freight via JL (Economy)decreased.
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