WEEK 38 Global Shipping Market Update

West Africa

Space: Tight

Rate Trend: MSC Sep 15-30 base ports & Nigeria rates up GRI USD 250/container vs. pre-Sep 14, GRI USD 500/container increase notice withdrawn. MSK rates forecast maintained. Sep 15-21 COSCO West Africa central region rates down USD 50 vs. first half before 14th, northern Dakar & Conakry down USD 100, Sep 21-30 rates maintained at WK38 level. PIL WK38 West Africa rates up USD 100/200 vs. first half of the month. MSC Wk37 Africa and Iroko services stopped accepting bookings, currently promoting Wk38 and onwards space; affected by Mid-Autumn and National Day holidays, customers with shipment plans can submit bookings early.

East Africa

Space: Tight

Rate Trend: MSC East Africa second half rates maintained, first half rates extended to Sep 30. CMA East Africa second half rates published: except Tanzania Dar es Salaam slightly up USD 100/200, other ports maintain first half rates; own-operated direct vessel space relatively ample. EMC Mombasa/Dar es Salaam market rates expected maintained through WK38. Co-loading feeder carriers like BENLINE have more schedule options in second half of Sep vs. before, carriers appear to have increased space, direct vessel pricing relatively competitive.

South Africa

Space: Tight

Rate Trend: CMA DURBAN PSS USD 100/200 effective Sep 17. MSC South Africa up USD 300/container, IOI Indian Ocean islands Port Louis and transshipment ports up USD 300/container. PIL South Africa Durban/Cape Town WK38 rates up USD 350. EMC Durban WK38 standard container rates up. Dry/reefer 40NOR containers to South Africa popular, Durban/Cape Town dry-reefer market rate around USD 2,500 per container; for cargo without special loading requirements dry-reefer can reduce freight cost, lock space early around dual festivals.

Thailand / Vietnam

Space: -3%

Rate Trend: Increase by USD 15–30/TEU

Market Update: Thailand/Vietnam exports growing steadily, export demand increase exceeds space supply, rates further adjusted upward

Indonesia

Space: +3%

Rate Trend: Increase by USD 25–50/TEU

Market Update: Indonesia pre-holiday exports strong, despite increased space supply still cannot meet export demand, market prices pushed up

Singapore / Malaysia

Space: -5%

Rate Trend: Increase by USD 15–30/TEU

Market Update: Singapore/Malaysia cargo volume increased somewhat, while carrier space reduced, market prices slightly upward

Philippines

Space: Stable

Rate Trend: Stable

Market Update: Philippines space supply relatively stable, less affected by broader market, rates temporarily maintained

Japan / Korea

Space: Stable

Rate Trend: Stable

Market Update: Japan/Korea exports slightly growing, space supply ample, rates mainly maintained

India

Space: +3%

Rate Trend: Stable

Market Update: India exports reduced due to high freight rates, market in wait-and-see mode, prices maintained at high levels

Middle East

Space: Ample WK38–39

Rate Trend: Decrease

Market Update: Prolonged rate increases have dampened shipment willingness, shipment pace slowing, rates slightly pulling back.

Red Sea

Space: Ample WK38–39

Rate Trend: Decrease

Market Update: Capacity continuing to increase; JEDDAH rates short-term firm due to port congestion, other Red Sea points saw slight decline.

Australia / New Zealand

Space: Stable

Rate Trend: Maintained

Market Update: Australia route export demand stable without further significant growth, space supply somewhat increased, rates maintained at high level. Australia West route cargo continues increasing, first-leg space reduced, market prices pushing upward again, transshipment port congestion not improved, arrival timing uncontrollable.

Europe / Mediterranean

Space: Stable

Rate Trend: Decrease

Market Update: Europe Mediterranean cargo volume insufficient, prices continuing to decline, Europe-Med gap gradually narrowing, West Med/North Africa decline more notable, East Med prices slightly down, some ports stable, overall rates still have downward room. Space supply relatively stable, blank sailing rate low, route resumption bringing some effective capacity release.

US West

Rate Trend: Continuing upward

Market Update: Blank sailings doubled combined with Golden Week suspensions, late Sep to early Oct space tight in phases, late Sep no retreat trend. Black Friday & Christmas stocking releasing simultaneously, cargo volume up, 40HQ starting container shortage tight, US East-to-West cargo diversion expected to increase further, US West space even more fiercely tight. Recommend: Secure space early, urgent cargo lock rates weekly via direct express.

US East

Rate Trend: Stubbornly high

Market Update: US East affected by capacity control, vessel skips and Panama Canal drought, market rates persistently high. Panama Canal daily transits reduced to 32 from Sep 15, Charleston longest berth wait 18 hours, schedule uncertainty pushing rates up. Sep increases and canal surcharges still in execution period, mid-to-late month prices surge again, post-holiday settling at high levels as demand retreats. Recommend: Advance shipment planning to 14 days, lock low-rate space early, watch destination detention/demurrage charges and alternative terminal options.

South America West / Mexico

Space: Ample

Rate Trend: Down USD 600/600

Market Update: Capacity tight, heavy cargo stockpiling, space-protected customers need separate confirmation in advance. COSCO WSA4/5 transferred to Qingdao transshipment due to Ningbo and Shanghai congestion. WSA WK40 blank sailing, WSA3 WK39 blank sailing; WSA5 WK40 blank sailing, WSA4 September South China uniformly arranged Ningbo transshipment — please arrange cargo accordingly. WSA tonnage tight recently, heavy containers require separate confirmation.

Central America

Space: Ample

Rate Trend: Down USD 600/600

Market Update: COSCO suspended BALBOA-bound cargo. COSCO PUERTO CALDER added CHANCAY transshipment path. CORINTO/SAN LORENZO due to original transshipment port BUENAVENTURA terminal congestion, changed to GUAYAQUIL transshipment.

Panama / Caribbean

Space: Ample

Rate Trend: Maintained or down USD 400/400

Market Update: Due to geopolitical impact, COSCO suspended BALBOA-bound cargo. Caribbean SAN JUAN/PORT AU PRINCE suspended, other port loading restrictions lifted. Currently due to Panama Canal water restrictions, heavy containers still need separate space reporting. CAX1 WK40 blank sailing, space tight, space-protected customers please confirm in advance.

South America East

Space: Ample

Rate Trend: Down USD 800/800

Market Update: COSCO September due to schedule disruption, SIN transshipment time expected 14+ days, space protection requires separate confirmation. 40NOR demand large, space and equipment sufficient, cold-to-dry cargo can reserve space in advance. COSCO ESA: PNG cargo acceptance suspended due to stowage issues, please use ESA2 if needed; ROSARIO suspended due to feeder service issues.