WEEK 36 Global Shipping Market Update

West Africa

Space: Tight

Rate Trend: MSC West Africa rates extended to Sep 14, central region rates slightly down from end-Aug, northern FREETOWN/MONROVIA sea freight up due to destination congestion surcharge increase, WK41 voyage FY639A blank sailing. CMA West Africa ports PSS up USD 300/600 effective Sep 8. MSK Sep first-half rates maintained. Affected by vessel delays and holidays, WK39-FY637A and WK40-FY638A MSC space allocation conservative, subsequent cargo volume increase will further trigger GRI. Currently space tight with no extra quota, recommend customers arrange shipments early, avoid late September scramble.

East Africa

Space: Tight

Rate Trend: MSC early-Sep rates slightly up from end-Aug, other direct services space tight. WK34-36 capacity deployment suppressed rates, but high capacity unsustainable — WK37 capacity dropped significantly. Supply outlook variable, if capacity contracts again rates may rebound. Recommend monitoring capacity dynamics, plan shipments in advance.

South Africa

Space: Tight

Rate Trend: Most South Africa market rates maintained at current levels, but space overall tight, some vessel slot shortages, capacity contraction supporting rates. Recommend advance shipment planning. Durban DGT terminal severely congested from system upgrade stacking with yard and equipment shortcomings, max vessel delay warning 20 days. Some carriers adjusted port calls, cargo transferred via Tanjung Pelepas transshipment, further port skips and schedule disruptions possible. Durban cargo: verify vessel ETA and container pickup appointments, watch storage/demurrage fee changes; for time-sensitive cargo, evaluate port change or transshipment alternatives early.

Thailand / Vietnam

Space: -3%

Rate Trend: Increase by USD 15–30/TEU

Market Update: Thailand/Vietnam route exports continuing to grow, space supply below demand, rates further adjusted upward

Indonesia

Space: -5%

Rate Trend: Increase by USD 25–50/TEU

Market Update: Indonesia route cargo volume starting to recover, export demand far exceeds space supply, market prices upward

Singapore / Malaysia

Space: -6%

Rate Trend: Increase by USD 15–30/TEU

Market Update: Singapore/Malaysia route affected by long-haul routes, space reduced, market rates slightly upward

Philippines

Space: -5%

Rate Trend: Increase by USD 25–50/TEU

Market Update: Philippines route cargo volume not significantly increased, but space supply reduced, freight rates pushed upward

Japan / Korea

Space: Stable

Rate Trend: Stable

Market Update: Japan/Korea route cargo flow average, demand and supply relatively balanced, market prices maintained

India

Space: -5%

Rate Trend: Increase by USD 50–100/TEU

Market Update: India route cargo volume increased, space supply far below export demand, freight rates continuing to rise

Middle East

Space: Ample WK36–37

Rate Trend: Stable

Market Update: Geopolitical conflicts continue driving price volatility. After 4 consecutive increases, most Persian Gulf port freight has broken the 10,000 threshold. Early Sep prices starting to loosen with pullback signs, overall downward pressure greater than upward momentum.

Red Sea

Space: Ample WK36–37

Rate Trend: Stable

Market Update: Multiple carriers resuming Suez services, capacity gradually increasing, Red Sea prices facing difficulty continuing to push up, expected stable or slight downward adjustment more likely.

Australia / New Zealand

Space: Reduced

Rate Trend: Stable

Market Update: Australia route cargo volume slightly declined, while space reduced causing tight supply, rates continue extended. Australia West Coast export demand not significantly increased, space supply stable, market prices mainly extended. Transshipment port congestion worsening, transit time uncontrollable.

Europe / Mediterranean

Space: Tightening

Rate Trend: Decrease

Market Update: Europe & Mediterranean prices continuing to decline, Mediterranean decline larger. Europe space supply stable, some carriers experiencing port skips/blank sailings, space trending tight. East Med & Black Sea space tight, West Med and North Africa relatively ample. Some carriers resuming Red Sea services, future effective capacity trending up.

US West

Rate Trend: Stalling at high levels, slight pullback early month

Market Update: Early September US route rates currently continuing upward, this round increase ~USD 400, but cargo volume already showing clear decline, end-shipment momentum weakening. Early month is demand vacuum — back-to-school season closing, Q4 Black Friday stocking only starts mid-Sep, NRF forecast full year imports only +0.1%, demand side cannot support continued peak. Recommend: urgent cargo prioritize direct express, lock rates weekly; non-urgent cargo can wait.

US East

Rate Trend: Continuing upward

Market Update: Panama Canal Sep capacity continuously tightening, CMA and COSCO officially announced USD 300-500 Panama Canal draft surcharges on US East and Gulf routes, other carriers expected to follow. Meanwhile, carriers simultaneously launching National Day Golden Week blank sailings, surcharge transmission and capacity control working together, short-term rates no room to decline. Recommend: lock space ASAP, ship before Sep 10, CMA space booked before PCAF effective locks old rate, saves USD 300-400/FEU.

South America West / Mexico

Space: Tight

Rate Trend: Maintained or increase by USD 400/400

Market Update: Capacity tight, heavy cargo stockpiling. COSCO WSA6 suspended South China calls from May. Due to Ningbo and Shanghai congestion, WSA4/5 transferred to Qingdao transshipment. WSA3 WK35 OMIT NS, WSA4 WK35 OMIT LAZARO — please arrange cargo accordingly. WSA space tight recently, heavy containers require separate confirmation.

Central America

Space: Tight

Rate Trend: Maintained or increase by USD 400/400

Market Update: COSCO suspended BALBOA-bound cargo. COSCO PUERTO CALDER added CHANCAY transshipment path; CORINTO/SAN LORENZO added BUENAVENTURA transshipment.

Panama / Caribbean

Space: Tight

Rate Trend: Maintained

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. Space tight.

South America East

Space: Tight

Rate Trend: Maintained or increase by USD 500/500

Market Update: August overall space relatively tight due to need to clear stockpiled cargo, space protection subject to case-by-case 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.