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Freight Market Update: January 15, 2023

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Ocean freight market update

China–North America

  • Rate changes: The freight rates for trade routes from China to the East Coast have lowered slightly. The freight rates for trade routes from China to the West Coast remained at a low level.
  • Market changes: The freight market is seeing a period of supply/demand balance. There is an abundant supply of vessels and shipping containers at major Chinese ports. No congestions are seen at major American ports, while there are congestions at some railway terminals.

China–Europe

  • Rate changes: With an expectation of an imminent demand spike, the freight rates have seen an increase.
  • Market changes: Major carriers are dealing with large numbers of idle shipping containers. The shortage on the supply side will last into the Chinese New Year (CNY). The drop in demand is expected after the CNY.

Air freight/express market update

China–America/Europe

  • Rate changes:
    Increased: UPS Saver (Premium), UPS Expedited (Standard), HKUPS Saver (Premium), and HK UPS Expedited (Standard)
    Lowered: Express EU & US (Standard), Express Australia & New Zealand (Standard), Freight via JL (Economy), and Plant Extract Express (Standard)

China–Southeast Asia

  • Rate changes:
    Increased: The freight rates of Plant Extract Express (Standard) bound for India
    Lowered: The freight rates of Electronics Parcels (Standard), Parcels (Standard), Parcels (Economy), Electronics Parcels (Economy), Electronics Parcels (Premium), and Parcels (Premium) bound for India
  • Restrictions changes: For shipments to India through Electronics Parcels (Standard), Parcels (Standard), and Parcels (Economy), the declared value of each package must not exceed US $50.

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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