WEEK 16 Global Shipping Market Update

West Africa

Space: Tight

Rate Trend:

• CMA CGM: Central/North West Africa +$300/+$600; Southern West Africa unchanged

• COSCO: +$50/$100

• Maersk (MSK): +$50 per container

• MSC: unchanged to slight decrease

East Africa

Space: Ample

Rate Trend: Fuel surcharges have increased. At the same time, capacity is tightening due to vessel reductions. Additionally, Europe–Mediterranean services rerouting via the Cape of Good Hope are using East African ports for replenishment, worsening congestion and driving rates upward.

South Africa

Space: Ample

Rate Trend: Fuel surcharge increase + peak season approaching → upward pressure on rates.

• MSC: +USD 400+/CTR

• CMA: +USD 400+/CTR

• Market: +USD 200–400

Indonesia

Space: +6%

Rate Trend: +25 — 50/TEU

Update: Cargo volume continues to rise, tightening space and pushing rates slightly upward.

Singapore / Malaysia

Space: -3%

Rate Trend: Stable

Update: Capacity reduced due to blank sailings on long-haul routes. Supply and demand remain balanced; rates unchanged.

Philippines

Space: Stable

Rate Trend: Stable

Update: Demand remains stable with no significant changes in capacity or pricing.

Japan / Korea

Space: Stable

Rate Trend: Stable

Update: Export demand remains steady, maintaining balance between supply and demand.

India

Space: -5%

Rate Trend: -25 — 50/TEU

Update: Cargo volumes have not recovered. Oversupply of space is leading to slight downward price adjustments.

Middle East

Space: Tight

Rate Trend: Stable

Update: Capacity is gradually recovering. KHOR FAKKAN and FUJAIRAH are emerging as new transshipment hubs. Rates remain stable.

Red Sea

Space: Tight

Rate Trend: Stable

Update: Cargo volume rebounded in April, tightening space and pushing rates up by around +$500/+$500.

• Jeddah direct service: ~$3,600–$4,700

• Transshipment service: ~$2,500–$3,500

Australia / New Zealand

Space: Stable

Rate Trend: Stable

Update: Carriers are gradually resuming sailings, increasing capacity. Market remains balanced.West Australia demand is steady; congestion at transshipment ports persists, leading to longer transit times.

Europe / Mediterranean

Space: Stable

Rate Trend: Decline

Update: Although capacity remains unchanged, demand is weaker than supply, leading to continued price declines.European ports remain congested, with waiting times of 5–7 days expected.

East Coast USA

Rate Trend: Increasing

Update: Since April 8, multiple carriers have introduced Emergency Bunker Surcharges (EBS/EFS), with further increases possible.

May marks the start of new annual contracts. Combined with significant capacity reductions in Week 16, including blank sailings by YML and MSC on key West Coast services and OA Alliance AAC service on April 16, carriers are strongly pushing for rate increases.

Rates after April 14 continue to rise. Space is extremely tight, with bookings extending into late April and early May. Advance booking is strongly recommended.

West Coast USA

Rate Trend: Increasing

Update: Rates are rising in line with East Coast trends.

East Coast is more sensitive due to transshipment via Panama or Suez Canal and higher fuel exposure.

Carrier capacity management and blank sailings further tighten space, supporting continued rate increases.

South America West / Mexico

Rate Trend: -USD 100/100

Space: Tight

Update: Capacity remains tight due to end-of-month cargo buildup. Booking confirmation required for guaranteed space.

COSCO: WSA3 Week 16 omits South China; Week 17 blank sailing.

Space is tight; 

heavy containers require separate confirmation.

Central America

Rate Trend: -USD 100/100

Space: Ample

Update: COSCO has suspended Balboa-bound cargo acceptance.

Cargo transshipping via Balboa to Central America (Puerto Caldera / Corinto / San Lorenzo) should be routed via Lazaro.

Panama / Caribbean

Rate Trend: Stable

Space: Tight

Update: Due to geopolitical factors, COSCO has suspended Balboa-bound shipments.

Other Caribbean destinations are open for booking, but heavy containers require prior approval and space confirmation.

South America East

Rate Trend: -USD 200/200

Space: Ample

Update: April vessel capacity is sufficient, but congestion in Montevideo and Buenos Aires remains severe, requiring per-shipment confirmation.

High demand for 40NOR containers. Refrigerated-to-dry conversions can be pre-booked.

COSCO has suspended Rosario feeder service. Rio de Janeiro faces blanking and transshipment rollover risks via Singapore.