Piyush Jindal’s Post

The start of peak shipping season, coupled with longer transits to avoid the Red Sea and bad weather in Asia, has disrupted key trade routes. Ocean carriers are skipping ports or reducing port time, leading to fewer empty containers being picked up. This has worsened the equipment shortage, especially in China, where high demand and fewer containers are making export operations difficult. Rates are rising, with MSC and YML adding $1,000 per container, and backlogs are growing. Shippers need to stay informed, adapt quickly, and explore alternative solutions to cope with these challenges. #Equipmentshortage #Emptycontainers #WeFreight

It is how to plan the unplan.

Something to ponder as we increasingly rely on offshore products nationally to meet consumer demand. This is focusing on Asia-Euro trade; but with the precedent being set Canadian Importers will need to take this into consideration moving forward when quoting the domestic market.

🌊 Ocean freight rates are soaring 🌊 The start of peak shipping season, the longer ocean transits to avoid the Red Sea, and the bad weather in Asia have been disrupting key trade routes and influencing global transport in the past few weeks. Additionally, ocean carriers seem to be skipping ports, reducing port time, or both. This leads to fewer empty containers being picked up along the key trade routes. These supply chain issues have worsened the equipment shortage, where high demand and fewer containers are making export operations difficult. To take into account these challenges and disruptions, shippers should stay informed, be flexible to adapt to a new situation swiftly, and explore alternative solutions. Interested to know more about the causes for the high ocean freight rates? Discover it here: https://lnkd.in/eJEiCzuZ #oceanfreight #oceantransport #shipping #transportation #logistics

Rising ocean freight rates, potentially hitting $20,000 per container, might start pushing importers to seek cost reductions elsewhere. This could significantly impact drayage and FTL services, as businesses look to balance their transportation budgets. The increase in maritime freight costs will likely lead to heightened demand for efficient and cost-effective inland transportation solutions that cope with market variations. Nonetheless, we are prepared to help our clients face these challenges and mitigate the effects of rising global shipping costs. Link to News Article: https://lnkd.in/gx547Su9 #Logistics #SupplyChain #Drayage #LTL #Freight #Transportation #CostManagement #Efficiency

Ocean freight rates from Asia to Europe increased sharply last week as carriers imposed a swathe of GRIs and other named surcharges, with more possible in the coming days and weeks. https://lnkd.in/ePmrBgih

🚢Discover the monthly container shipping Barometer - July 2024 📊 This month's report shows a stabilisation of freight rates on the Asia-Europe trade and carriers sending a signal of moderation to the market. Tensions in the Red Sea continue to disrupt the sector and shipping reliability remains lower than in 2023. Download the full report for more details 📥 https://lnkd.in/eT4taei7 #SeaTransport #Logistics #Freight #SupplyChain #Barometer

Air freight rates from China to Europe have soared in early 2024, reaching a 76% premium over pre-pandemic levels. This is driven by shippers shifting cargo from ocean to air due to reliability issues in the Red Sea region. In contrast, the backhaul market from Europe to China remains flat, with rates only 5% above 2019 levels. Excess capacity on the backhaul has led to a 35% year-on-year drop in spot rates. While the fronthaul is a seller's market, the backhaul is facing headwinds. The situation underscores the stark contrasts between the two air freight trade lanes between China and Europe in 2024.

If there's something predictable about the maritime market in the last few years, it's that it is unpredictable. H1 '24 has lived up to that, witnessing rates and capacity availability fluctuate wildly, making it hard to pinpoint if the issue is demand-side or supply-side. While US containerized imports look to be outstripping year-on-year numbers all through H1 '24, a bit of perspective will show that '23 volumes were held down by bloated inventories from the year before. Sure, the numbers are high this year, but it's nothing out of the ordinary in the larger scheme of things. On the other end of the spectrum, capacity supply faces a ton of headwinds. There's the Red Sea crisis that scooped out capacity via circumventing COGH, port congestion across Asia-Pacific, there's an issue with repositioning empties, and beyond such ambient challenges, there's a significant lack of transparency on available capacity. “Our discussions with vessel operators and brokers tell us that vessels leaving China are not always leaving full,” said Ram Radhakrishnan, the CEO of Silq. “While liners spoke of the empty repositioning problem back during the pandemic, they are choosing not to talk about it today. This makes it seem like there is no space on deck, when in reality, that isn’t always the case.” The challenge could lie in shipper-owned containers (SOCs). While liners were okay with using SOCs during the height of the pandemic, Ram explained that not many vessel operators are keen to pick SOCs today. While this can solve the empties repositioning problem, increasing container supply will also reduce liners' margins on their owned containers, making their reluctance understandable. All this market opacity is being exploited by extra loaders for available space that carriers don't advertise, selling them 1-2 weeks before scheduled sailings. This week's newsletter discusses this 'gray area' and more. Read on! #maritime #freight #supplychain #logistics https://lnkd.in/gAd3aAaa

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