Global container freight rates have shown a significant downward trend in recent weeks. This decline is particularly noticeable on Asia-Europe and Trans-Pacific routes, driven by demand fluctuations and capacity management strategies. Freight rates for sea transportation from Turkey to Europe vary depending on the points of departure and arrival but remain generally stable. Current port sources indicate equipment issues caused by delays, including customs-related delays. Additionally, vessel departures from ports have experienced disruptions. Conclusion: The current trends in global container shipping suggest a downward trajectory in freight rates. However, equipment shortages, transit times, and changes in estimated arrival times should be carefully considered. #GlobalShipping #ContainerFreight #SupplyChain #LogisticsTrends #ShippingUpdates
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The latest Ocean Freight Market Update reveals that demand in the first half of 2024 has surpassed expectations, largely driven by the early shipment of cargoes as a preventive measure. As a result, freight rates are projected to stabilize at elevated levels due to persistent shortages of empty containers, robust demand, and ongoing port congestion. Additionally, outbound trade routes from Asia are continuing to see growth that exceeds the global average. Container vessels remain fully booked on numerous routes through August. For comprehensive insights and expert analysis on the #OceanFreight market, please read the full report here: https://okt.to/FSXkLN #DHL #DHLGlobalForwarding #Transportation #Logistics #FreightForwarding
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🚨 Global Shipping Faces Severe Container Crunch 📈 Recent data indicates a troubling rise in global ocean freight rates. Spot rates for shipping from Asia to the U.S. have surged by up to 41%, driven by container shortages and port congestion. Experts warn that ocean cargo rates could approach $30,000, echoing highs seen during the Covid-19 era. Issues such as attacks in the Red Sea and longer shipping routes due to the Panama Canal are exacerbating the situation. Supply chain disruptions and port delays add further complexity, with concerns about potential strikes at East Coast and Gulf Coast ports looming. - Container shipping through the Red Sea has declined by approximately 90%. Alternate shipping routes around Africa add one to two weeks of transit time and $1 million in fuel costs for each voyage. - Far East to U.S. Ocean freight rates have increased by 36%-41% month over month. - DHL forecasts that ocean freight rates may not decrease until 2025, potentially reaching $20,000 to $30,000. As we approach the back-to-school and holiday seasons, Shipper Owned Container (SOC) is closely monitoring the global trade disruption and working to provide our customers with the best prices on containers. SOC strives to keep a full inventory of both Shipping Containers and DNV 2.7-1 equipment, ensuring fast delivery to our customers. Contact us today! #ShipperOwnedContainer #SOC #shipping #transportation #manufacturing #GlobalNews #News https://lnkd.in/gn5qNaY6
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#containershipping spot #rates continued to skyrocket last week making shippers anxious about further acceleration and how high the rates may go. So far, on-the-spot bookings are in great demand this season. #transport #logistics #supplychain #shipping #containers #seafreight #oceanshipping
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Managing Complex Global Supply Chains for Leading Companies @ CLN Worldwide | Real Estate Agent/Investor | Rocket City Trash Pandas 🐼 | Naked River Brewing 🍺
Global containerized ocean freight prices are surging to levels not witnessed since the pandemic-induced supply chain disruption. Rates on key trade lanes have escalated by 140% since mid-December and continue to rise weekly. Please feel free to reach out for a comparison of our ocean freight rates with your current rates. chris.richards@clnusa.com CLN Worldwide #scfi #china #oceanshipping #oceanfreight #container #oceancontainer #globallogistics #globaltrade #globalshipping
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Given the ongoing port congestion and equipment shortages exacerbated by the Red Sea rerouting of container volumes, particularly from Asia to Europe, can we anticipate air freight to benefit? Reflecting on the post-pandemic freight boom, we observed that such congestion and shortages led to a stagnation in container import tonnage. Desperate for imports, some shippers turned to air freight as an alternative. The chart reveals that air freight and container tonnage, indexed to Q1 2021 (the onset of congestion and shortages), exhibited distinct trends. Container tonnage remained flat from Q1 2021 to Q4 2021, and by Q4 2022, it had increased by only 8% compared to Q1 2021. By contrast, air freight experienced a substantial growth of 26% during the same period. Mid-2022 saw a relief in logistics bottlenecks, allowing ocean container tonnage to grow again. By Q2 2022, the growth trajectories of air freight and ocean container tonnage were back in alignment. However, starting in Q3, airfreight and container tonnage entered a prolonged contraction phase, influenced by rising interest rates impacting the housing and cash-out refinance markets. Considering these trends, will air freight benefit from the current shortages in ocean containers? If the recent past serves as a reliable guide, the answer is yes. #Logistics #SupplyChain #Shipping #Freight #AirFreight #OceanFreight #PortCongestion #SupplyChainManagement #Transportation #ImportExport #GlobalTrade #LogisticsManagement #ContainerShipping #FreightForwarding
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Given the ongoing port congestion and equipment shortages exacerbated by the Red Sea rerouting of container volumes, particularly from Asia to Europe, can we anticipate air freight to benefit? Reflecting on the post-pandemic freight boom, we observed that such congestion and shortages led to a stagnation in container import tonnage. Desperate for imports, some shippers turned to air freight as an alternative. The chart reveals that air freight and container tonnage, indexed to Q1 2021 (the onset of congestion and shortages), exhibited distinct trends. Container tonnage remained flat from Q1 2021 to Q4 2021, and by Q4 2022, it had increased by only 8% compared to Q1 2021. By contrast, air freight experienced a substantial growth of 26% during the same period. Mid-2022 saw a relief in logistics bottlenecks, allowing ocean container tonnage to grow again. By Q2 2022, the growth trajectories of air freight and ocean container tonnage were back in alignment. However, starting in Q3, airfreight and container tonnage entered a prolonged contraction phase, influenced by rising interest rates impacting the housing and cash-out refinance markets. Considering these trends, will air freight benefit from the current shortages in ocean containers? If the recent past serves as a reliable guide, the answer is yes. #Logistics #SupplyChain #Shipping #Freight #AirFreight #OceanFreight #PortCongestion #SupplyChainManagement #Transportation #ImportExport #GlobalTrade #LogisticsManagement #ContainerShipping #FreightForwarding
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This helpful insight sheds light on the extended transit times and rates impact that are a result of the disruptions across the Red Sea:
The disruptions across the Red Sea continue unabated, with ongoing route diversions, prolonged transit times and associated delays resulting in an 80% volume reduction of maritime traffic across the Suez Canal. However, whilst the continued shipping diversions have seen rates surge 200% throughout January and February, the overall impact on the shipping rates is far less than the unprecedented consumer demand experienced during the pandemic, which saw container rates increase by more than 900% throughout the period 2019 to 2021. With the early rate surge already in decline, this more subdued environment can be partially attributed to the current slowdown in demand for goods manufactured in Asia. This has resulted in lower freight rates and cancelled sailings along shipping routes from China to the U.S. West Coast, signalling that the influence of China's economy on supply chain prices may continue to be more pronounced than the impact of the Middle East conflict. However, it is important to recognise that the medium to long-term impact of the Red Sea disruption remains to be seen. Currently the extended transit times are notable with an additional 14 days, plus war risk premiums have risen from 0.7 to 1% of a ship's value, with the real possibility that these could increase further. #update #news #redsea #redseadisruptions #shipping #shippingnews #traderoutes #shippingroutes #globaltrade #supplychain #logistics #freightforwarder #freightforwarders #logisticsservices #supplychainservices
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Oil & Energy Pricing Manager --- Logistics Pricing Leader: Loyalty Through Service and Communication
Spot shipping rates continue skyrocketing amid the Red Sea crisis, with no ceiling in sight. Analysis shows if rates per nautical mile reach pandemic peak levels, rates could soar to $18,900 per container from Shanghai to Rotterdam, $21,600 to Genoa, and $12,200 for the backhaul - or potentially even higher in the coming weeks, causing major pain for shippers.
Asia-Europe Spot Rates Could Exceed US$20,000 for 40' Containers
transportandlogisticsme.com
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Hey everyone! 🚢🌏 Heads up! Ocean freight rates from Asia to North America are on the rise. 📦⬆️ This surge is impacting shipping costs across the board, so plan ahead for any imports or exports. 🌐✈️ Stay informed and stay ahead of the curve! #ShippingNews #OceanFreight #GlobalTrade #Logistics #SupplyChain #ImportExport #AsiaToNorthAmerica12s
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Read below for an insightful perspective on both the rates and transit times that are a result of the Red Sea disruptions:
The disruptions across the Red Sea continue unabated, with ongoing route diversions, prolonged transit times and associated delays resulting in an 80% volume reduction of maritime traffic across the Suez Canal. However, whilst the continued shipping diversions have seen rates surge 200% throughout January and February, the overall impact on the shipping rates is far less than the unprecedented consumer demand experienced during the pandemic, which saw container rates increase by more than 900% throughout the period 2019 to 2021. With the early rate surge already in decline, this more subdued environment can be partially attributed to the current slowdown in demand for goods manufactured in Asia. This has resulted in lower freight rates and cancelled sailings along shipping routes from China to the U.S. West Coast, signalling that the influence of China's economy on supply chain prices may continue to be more pronounced than the impact of the Middle East conflict. However, it is important to recognise that the medium to long-term impact of the Red Sea disruption remains to be seen. Currently the extended transit times are notable with an additional 14 days, plus war risk premiums have risen from 0.7 to 1% of a ship's value, with the real possibility that these could increase further. #update #news #redsea #redseadisruptions #shipping #shippingnews #traderoutes #shippingroutes #globaltrade #supplychain #logistics #freightforwarder #freightforwarders #logisticsservices #supplychainservices
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