WEEK 33 Global Shipping Market Update

West Africa

Space: Tight

Rate Trend:MSC: Rates valid through Aug. 24; actual rates are around USD 100 lower than the announced increase. Conakry congestion surchargerises from USD 1,000/TEU to USD 1,400/TEU from Aug. 10.CMA: Aug. 1 announced a USD 150/300 increase, but actual market rates remain stable/downward. Rates are maintained through the second half of August. COSCO: Rates continue to trend downward and are valid through Aug. 21.

East Africa

Space: Tight

Rate Trend: East Africa overall rates mainly downward, MSC rates at major East Africa ports continuing to weaken. Mozambique market showing north-strong south-weak: northern Nacala & Maputo rates rising, central Beira flat, driven by northern mining export volume increase and tightened space. Island port rates diverging sharply: Longoni significantly up, Moroni significantly down, volatility far exceeding mainstream ports. Destination congestion surcharges unchanged, port congestion not yet showing significant improvement. HMM new East Africa GIA service, Sep 24 NHAVA SHEVA first sailing, transit only 19 days! Port rotation: NHAVA SHEVA, MUNDRA, DAR ES SALAAM, MOMBASA; first sailing rates available, welcome inquiries.

South Africa

Space: Tight

Rate Trend: South Africa route first to show stabilization and rebound, some popular ports rates up USD 100, likely driven by South Africa peak season stocking demand starting, space tight. Continue monitoring whether it drives other southern African ports to follow. Southeast Africa inland transit situation remains severe, all transit prices and bunker charges need re-confirmation upon arrival.

Thailand / Vietnam

Space: Stable

Rate Trend: Decrease by USD 15–30/TEU

Market Update: Thailand/Vietnam route export demand growing slowly, space ample, market prices slightly down again

Indonesia

Space: -5%

Rate Trend: Decrease by USD 25–50/TEU

Market Update: Indonesia route export volume not yet seen significant recovery, market space ample, rates adjusting downward

Singapore / Malaysia

Space: -3%

Rate Trend: Stable

Market Update: Singapore/Malaysia route affected by India route rate hikes, reduced short-haul space, supporting rates, market prices extended

Philippines

Space: Stable

Rate Trend: Stable

Market Update: Philippines route cargo volume stable, space demand not increased, space supply stable, rates extended

Japan / Korea

Space: Stable

Rate Trend: Stable

Market Update: Japan/Korea route cargo volume stable, export demand and supply relatively balanced, prices maintained

India

Space: -5%

Rate Trend: Increase by USD 50–100/TEU

Market Update: India route cargo volume not seen significant increase, but due to space reduction, supply trending tight, market prices rising

Middle East

Space: Tight

Rate Trend: Increase

Market Update: Geopolitical risks elevated, war spillover pushing surcharges continuously up, Strait of Hormuz passage obstructed, hard to ease in short term. Capacity tight, prices frequently increasing. Persian Gulf increase approx. USD 1000/1000.

Red Sea

Space: Tight

Rate Trend: Increase

Market Update: Houthi attack scope expanding, Red Sea risk premium continuing to rise, JEDDAH congestion persisting, rates sharply increasing, JEDDAH 40HQ already above 10,000; SOKHNA & AQABA rates stable.

Australia / New Zealand

Space: Reduced

Rate Trend: Stable

Market Update: Australia route export not seen significant increase, while space supply reduced, market prices maintaining high levels and extended; Australia West Coast route export demand and space supply relatively stable, transit situation not well improved, transit time predictability low.

Europe / Mediterranean

Space: Stable

Rate Trend: Decrease

Market Update: Europe & Mediterranean cargo volume reduced, space supply ample, market prices still on downward trend.

US West

Rate Trend: Pulling back from highs

Market Update: After GRI landed, high-level oscillation, mid-to-late month expected to weaken. US West already showing "quote up, transaction following limited" inflated trend. CMA has lowered Aug 15 new FAK quote from previously planned 7100 to 6200, directly down USD 900. Recommendation: urgent cargo prioritize direct express, lock rates weekly, space not tight. Non-urgent cargo can wait 1-2 weeks, better prices expected late August. Avoid Oakland (ILWU solidarity strike risk), prioritize LA/LB.

US East

Rate Trend: Holding firm at highs

Market Update: Panama tightening + GRI dual drivers, US East route strong resistance to decline. Recommendation: lock space early, not advisable to wait. After Aug 15 canal tightening, space will be even tighter, recommend locking at least 3 weeks in advance. For time-sensitive cargo, consider "US West express + rail/truck" alternative to US East all-water (overall cost may be lower, transit more controllable).

South America West / Mexico

Space: Tight

Rate Trend: Increase by USD 600/600

Market Update: Capacity remains tight due to heavy cargo stockpiling. COSCO will suspend South China calls on the WSA6 service starting from May.Due to congestion at Ningbo and Shanghai ports, WSA4/WSA5 services have been switched to Qingdao for transshipment.WSA2 WK34: Omit PQ.WSA5 WK34: Blank SailingWSA space has been tight recently, and heavy containers require separate confirmation.

Central American

Space: Tight

Rate Trend: Increase by USD 600/600

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: Increase by USD 800/800

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: Ample

Rate Trend: Maintained

Market Update: August space relatively ample, but 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.