West Africa

Space Availability: Tight

Freight Market:In late March, impacted by the Iran situation:

• Bunker Adjustment Factors (BAF) surged, and war risk surcharges increased.

• Europe services rerouted via the Cape of Good Hope, calling at African ports en route, which has increased port congestion and reduced operational efficiency.

• Longer sailing distances due to rerouting have led carriers to redeploy larger vessels from Africa trades, resulting in reduced capacity. Blank sailings and port omissions are frequent, further tightening space.

Rate Increases:

• Central & West Africa experiencing severe congestion

• CMA: +USD 230/530

• MSC: +USD 200/container

• ZIM: +USD 200–300

• Maersk (MSK): +USD 100–200

East Africa

Space Availability: Ample

Freight Market:Due to the Iran situation, BAF has increased. Rerouted vessels via the Cape of Good Hope are calling at ports such as Mombasa and Dar es Salaam, worsening already low port efficiency—especially in Dar es Salaam.Compared to early March, most carriers raised rates by USD 200+/container in late March. However, the upward trend appears unsustainable due to increased capacity deployment. Rates are expected to stabilize.

South Africa

Space Availability: Ample

Freight Market:BAF increases combined with the approaching peak season are pushing rates upward.

Rate Increases:

• MSC: +USD 400+/container

• CMA: +USD 400+/container

• Market average: +USD 200–400

2. Southeast Asia Line

Thailand & Vietnam

Space Availability:-5%

Rate Trend: +USD 25–50/TEU

Market Insight:Pre-Songkran holiday cargo volume is increasing, driving higher demand and rate hikes.

Indonesia

Space Availability: +3%

Rate Trend: +USD 25–50/TEU

Market Insight:
Cargo volume is growing, with additional fuel surcharges applied.

Singapore & Malaysia

Space Availability: -5%

Rate Trend:+USD 25–50/TEU

Market Insight:Cargo volume continues to rise, increasing demand and supporting further rate increases.

Philippines

Capacity: Stable

Rate Trend: Stable

Market Insight:Demand remains moderate with sufficient space; rates unchanged.

Japan & Korea

Space Availability: Stable

Rate Trend: Stable

Market Insight:Weak demand with no significant cargo growth; rates remain flat.

India

Space Availability: -5%

Rate Trend: -USD 50–100/TEU

Market Insight:Cargo volume remains below expectations, leading to oversupply and downward rate adjustments.

3. Middle East & Red Sea Line

Middle East

Space Availability: Tight

Rate Trend: Increasing

Market Insight:Ongoing regional tensions are disrupting transit through the Strait of Hormuz. Some carriers are offering inland services via transshipment hubs such as Khor Fakkan and Fujairah.

Rates: ~USD 5,500–6,500

Red Sea

Space Availability: Tight

Rate Trend: Increasing

Market Insight:Port disruptions in the Middle East are diverting cargo to Red Sea transshipment. Post-Ramadan cargo recovery is tightening space.

April Outlook:Rates expected to increase by USD 300–400

Current Levels:Jeddah (Direct): ~USD 3,000–4,200/Transshipment: ~USD 2,400–3,100

4. Europe & Oceania Line

Europe

Space Availability: Stable

Rate Trend: Decreasing

Market Insight: 

Australia: Cargo volume is increasing, tightening space. Rates are rising due to Middle East disruptions.

West Australia: Demand is improving, but rates remain unchanged due to market resistance. Port congestion is causing longer transit times.

Australia & New Zealand

Space Availability: Stable

Rate Trend: Stable

Market Insight: No significant rate change from late March to early April. Demand remains weak; rates may decline further.

5. Transpacific Line (US & Canada)

US East Coast

Rate Trend: Increasing

Market Insight: Several carriers intend to increase US West Coast rates, but actual transaction rates remain below announced levels. Current load factor is only ~70%, indicating oversupply. Discounted space continues to suppress rate growth.

US West Coast

Rate Trend: Increasing

Market Insight: Multiple blank sailings on US East Coast routes (ZIM/MSC ZNS, PA Alliance EC1, WHL AA7) have sharply reduced capacity, causing severe space shortages.With pre-Qingming shipping demand rising, carriers are pushing for rate increases in April.

6. Latin America Line

West South America / Mexico

Space Availability: Tight

Rate Trend: Stable

Market Insight: Capacity is tight with end-of-month cargo buildup. Space-guaranteed bookings require confirmation.

• Service adjustments:

• COSCO WSA3 WK14 skips South China

• WK15 omits Nansha

• WSA5 WK14 blank sailing

Central America

Space Availability: Ample

Rate Trend: +USD 300/300

Market Insight: COSCO has suspended cargo to Balboa for transshipment to Central America (Puerto Caldera / Corinto / San Lorenzo). Cargo should be routed via Lázaro Cárdenas instead.

Panama & Caribbean

Space Availability: Ample

Rate Trend: Stable or -USD 200/200

Market Insight: Due to geopolitical factors, COSCO continues to suspend Balboa cargo. Other Caribbean ports have reopened, but overweight containers require pre-approval.

East South America

Space Availability: Ample

Rate Trend: Stable or +USD 200/200

Market Insight:April capacity is sufficient, but congestion in Montevideo (MVD) and Buenos Aires (BUE) persists.

• Space-guaranteed bookings require case-by-case confirmation
• Strong demand for 40NOR containers
• COSCO suspends Rosario calls due to feeder issues
• Risk of port omission in Rio de Janeiro and cargo rollover via Singapore