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Freight Market Update: October 15, 2022

aerial view of cargo ship and cargo container in harbor

Ocean freight market update

China – North America/Europe

  • Rate changes: Freight rates are decreasing as a result of reduced demand during the China’s National Day holiday.
  • Market changes: Delays at US ports are improving steadily. In Canada, there are still significant delays at Vancouver and Prince Rupert ports. European ports, especially in Hamburg and Rotterdam, port activity is struggling under severe delays. This situation also causes longer lead times for shipping vessels to return to Asia.
  • Recommendation: Set a buffer when planning your shipments due to anticipated congestions and delays.

Air freight/express market update

China – North America/Europe

  • Rate changes: By mid-October, the freight rate of Freight via JL (Economy) increased.

China – Oceania

  • Restriction changes: DPEX (Economy) of Australia and New Zealand now has the “only one parcel per shipment order” limit in place, with each dimension under 1 meter in length, and the weight under 30 kg each parcel.

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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