WEEK 37 Global Shipping Market Update

West Africa

Space: Tight

Rate Trend: CMA West Africa PSS +USD 300/600 effective Sep 15. MSC West Africa rates extended to Sep 14. MSK mid-month rates: northern part POD pushed up USD 200-300. MSC West Africa Wk35 Iroko (FN634A) stopped releasing space, cutoff not extended. Wk36 Iroko (FN635A) full, new space gradually releasing. Wk36 Africa (FY634A) fully loaded stopped releasing. Affected by Mid-Autumn and National Day holidays, MSC next week will open Wk39/40/41 booking, firm orders can submit in advance. West Africa affected by rainy season and year-end Christmas peak season: Sep-Dec concentrated shipments, Aug-Oct prone to transit delays and extra charges. Ghana TEMA congested, yard saturated, trailer delayed at port. Nigeria (Apapa/Tin Can) and Abidjan severe port congestion, recommend exporters reserve logistics buffer, pre-Mid-Autumn/Double Festival shipments book at least 4 weeks in advance, and purchase cargo insurance against port congestion risk.

East Africa

Space: Tight

Rate Trend: ZIM/ONE/PIL WK37 fully booked, dual festivals approaching, South China origins to East Africa (Mombasa, Dar es Salaam and other base ports) sea export showing "volume up price stable" pattern. Recommend customers shipping before holidays lock space 2-3 weeks in advance, prioritize direct services, avoid delays from holiday domestic customs and trailer resource tension. Also Red Sea situation remains uncertain, some voyages rounding Cape of Good Hope may extend transit.

South Africa

Space: Tight

Rate Trend: COSCO South Africa pushed up USD 200/400. CMA South Africa first half of September pushed up USD 200/400. Pre-holiday space tight, confirm booking at least 3 weeks in advance. Durban port persistently congested, Cape Town port operation efficiency unstable, causing carriers' on-time performance decline, some voyages experiencing port skips or delays. Recommend incorporating surcharges in cost calculation, dry/reefer 40NOR space to South Africa tight, customers needing South Africa dry/reefer to reduce freight cost recommend locking space early.

Thailand / Vietnam

Space: -5%

Rate Trend: Increase by USD 15–30/TEU

Market Update: Thailand/Vietnam cargo volume continuing to rise, space supply below export demand, market prices upward

Indonesia

Space: Stable

Rate Trend: Increase by USD 25–50/TEU

Market Update: Indonesia export demand strong, due to extended vessel schedule cargo accumulation at port, space tight, rates rising again

Singapore / Malaysia

Space: -5%

Rate Trend: Increase by USD 15–30/TEU

Market Update: Singapore/Malaysia continuing affected by long-haul routes, space supply reduced, rates adjusted slightly upward again

Philippines

Space: Stable

Rate Trend: Stable

Market Update: Philippines export demand flat, space supply stable, market prices maintained

Japan / Korea

Space: Stable

Rate Trend: Increase by USD 25–50/TEU

Market Update: Japan/Korea cargo volume rapidly growing, space supply below export demand, rates rising

India

Space: +6%

Rate Trend: Stable

Market Update: India export demand slowing, while space supply increased, space eased, market rates stable at high levels

Middle East

Space: Ample WK37–38

Rate Trend: Stable

Market Update: Situation remains tense, overall space supply improving, rates basically stable. Some individual carriers showing slight downward adjustment signs of around USD 200/200.

Red Sea

Space: Ample WK37–38

Rate Trend: Stable

Market Update: With increase in Red Sea resumption capacity, JEDDAH prices basically maintained stable due to port congestion, SOKHNA, AQABA rates slightly down.

Australia / New Zealand

Space: Reduced

Rate Trend: Increase

Market Update: Australia route export cargo demand increased, affected by weather vessel schedule delays, port accumulation and carrier space reduced, demand far exceeds supply, market prices pushing upward. Australia West route cargo volume increased, space supply not significantly adjusted, rates slightly up, affected by transshipment port congestion, transit time longer.

Europe / Mediterranean

Space: Ample

Rate Trend: Decrease

Market Update: Europe Mediterranean cargo volume weak, prices continuing slight decline, West Med/North Africa decline more significant. Affected by typhoon vessel schedule delays, port accumulation slowly dissipating, resumption acceleration combined with reduced blank sailings, space supply relatively ample, schedule still in disorder stage.

US West

Rate Trend: Stalling at high levels, slight pressure end of month

Market Update: GRI push-up window still open (carriers mid-month +USD 500-1000/FEU probability high), but Black Friday actual stocking launch delayed, cargo volume support insufficient, rate upward momentum weaker than US East. Late September to early October if blank sailings collectively return, rates have USD 200-400/FEU pullback space. Recommend: Urgent cargo prioritize direct express lock rate weekly, non-urgent cargo can wait for late September to early October window.

US East

Rate Trend: Continuing upward

Market Update: Panama Canal September capacity continuously tightening, combined with Golden Week blank sailings, CMA PCAF (9/10) + MSC Canal surcharge (9/12) centralized execution. Mid-late month US East spot expected to push up another USD 1000-1500/FEU, early October blank sailings return high-level stable, recovery needs to wait until mid-late October. Recommend: Plan shipment in advance, lock low-price space. September rate concessions strict on cut-off time control, carrier news needs close attention.

South America West / Mexico

Space: Ample

Rate Trend: Down USD 800/800

Market Update: Capacity tight, heavy cargo stockpiling, space protection customers need separate confirmation in advance. COSCO WSA6 suspended South China calls from May. Due to Ningbo and Shanghai congestion, WSA4/5 transferred to Qingdao transshipment. WSA3 WK38 OMIT NS, WK39 blank sailing; WSA4 WK38 blank sailing — please arrange cargo accordingly. WSA space tight recently, heavy containers require separate confirmation.

Central America

Space: Ample

Rate Trend: Down USD 800/800

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: Down USD 500/500

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, space protection customers please confirm in advance.

South America East

Space: Tight

Rate Trend: Maintained or decrease 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.