There has been a significant surge in container freight rates across the globe, particularly impacting transatlantic and transpacific trade routes. Initially, the spike was noted on the Asia-Europe route, but it’s now extending its reach to the transpacific and threatening to disrupt transatlantic shippers as well.
Key Points:
- Transatlantic Impact: Spot rates from North Europe to the US East Coast are experiencing a downturn, with Maersk announcing a Peak Season Surcharge (PSS) to counteract.
- Rate Restoration Initiatives: CMA CGM has introduced its second rate restoration initiative (RRI02) affecting shipments from European ports to North America, aimed at combating the dip in demand on the transatlantic route.
- Asia-Europe Challenges: Carriers are imposing force majeure on bill of lading contracts and various surcharges due to disruptions, notably with CMA CGM’s new rates for Asia-North Europe shipments.
- Global Capacity Concerns: Following events in the Red Sea, MSC’s diversion of its fleet increases transit times, affecting global capacity and equipment availability.
- Rate Fluctuations: Drewry’s WCI shows a significant rise in container spot rates for Asia-North Europe and transpacific routes, indicating a broader trend of increasing freight rates.
This underscores the complexities facing the global shipping industry’s recent events, with rate increases and operational challenges creating a dynamic and uncertain landscape for shippers and carriers alike.
A2B Link will continue to monitor and update the ocean freight challenges in this News page.