Situation

Although rate levels peaked in late July and early August, severe weather continues to cause major disruptions. The ongoing typhoon season is affecting carrier schedules and leading to port omissions and equipment shortages.

Obstacles

Weather conditions and delayed vessel arrivals from Europe will be the main factors influencing the market in the coming weeks. Some carriers are attempting to improve schedule reliability by rerouting vessels through the Red Sea and Suez Canal rather than around the Cape of Good Hope. Despite these efforts, active typhoons are expected to continue impacting sailings throughout the month.

Outlook

Bookings are relatively stable, with a small rush expected towards the end of September prior to the Golden Week holidays. However, carriers may continue accepting additional cargo to cover the first week of the holidays in China. In addition, carriers have introduced blank sailings for this period. We expect cargo volumes to recover soon after the holidays, partly because the Chinese New Year falls earlier this year.

Main Ports: Far East to North Europe

^{Source: Market average rates for 40‘ containers according to www.xeneta.com}

Main Ports: Far East to Mediterranean