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Freight Market Update: October 30, 2022

Forklift driver loads parcel boxes into cargo containers

Ocean freight market update

China – North America

  • Rate changes: Without a bounce-back in demand, freight rates continue to fall.
  • Market changes: Congestions have been seen at major US sea ports and rail hubs. In Canada, port congestions and delays have been worsening. Railway delays are getting better than last week.
  • 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/Europe/Oceania

  • Rate changes: In the second half of October, the freight rates of Express via JY (Premium) increased, including Indonesia, South America, Europe, and Africa. 

The freight rate of Freight via JL (Economy) decreased.

  • New services available: On-time delivery guaranteed offerings are available from Air Charter Express US (Premium). For chartered SKA customers, logistics VIPs, and customers with a logistics level of Level-2 or Level-3, the company provides an on-time delivery guarantee (with compensations for shipping delays).

Lightweight Goods Express (Standard) now operates 2-30KG shipping in the US, France, and Australia.

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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