Asia to North America Shipping Market Dynamics:
With the continued lockdown in Shanghai, suppliers and importers are facing increasing uncertainty. Ocean carriers continue to assess the impact on bookings, with Chinese export cargo activity dwindling due to the current situation, with many turning to Southeast Asia for shipments. With the traditional peak season approaching, many importers and retailers are still desperate to replenish their inventories. Old problems that have not been alleviated include severe congestion, equipment imbalances, delayed freighter voyages, port hopping, empty flights, and higher fuel surcharges. The level of sea freight is still at a high level compared with the market before the epidemic, and the prices of a few market segments have dropped. The priority shipping market remains strong.
Asia to Europe Shipping Market Dynamics:
Shanghai is still under lockdown, and some areas may be lifted in the near future. Cases have also emerged in other cities in eastern and northern China. Factory production, warehouse, and trucking service supply are affected, although port terminals and trucking remain fully operational. All shipping alliances are available in all ocean freight rates and spot freight spaces, but carriers are still restricting long-term large customer transactions. In response to recent changes in the situation, it is expected that carriers may announce port jump and air travel measures. Ocean freight rates are still high, but due to the market slowdown, prices generally show a downward trend after March and the beginning of April.
However, it is worth noting that the freight rates of Southeast Asian cargo routes have skyrocketed recently.
According to the latest data released by Drewry, in the next 5 weeks (weeks 16-20), the world's three major shipping alliances have successively canceled several voyages. 17 voyages; the fewest Ocean Alliance canceled 12 voyages; 54 voyages in total.
Of a total of 725 scheduled sailings on major routes such as the transpacific, transatlantic, Asia-Nordic, and Asia-Mediterranean, 72 sailings were canceled between week 16 and week 20 next year, a cancellation rate of 10%. During this period, 58 percent of blank sailings will occur on the trans-Pacific eastbound trade lanes, primarily to the U.S. West Coast, according to Drewry's current data.
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