Source: Market average rates for 40‘ containers according to www.xeneta.com
Trade Analysis: Far East Westbound
Situation
Bookings on this trade lane increased toward the end of November and the beginning of December. Although vessel space is getting tighter, rates are holding steady and have not increased significantly in the first half of December. This aligns with the slightly lower SCFI recorded in the final week of November. The current rate stability is primarily due to increased vessel capacity into North Europe – offsetting the impact of announced blank sailings and resulting in more space being available.
Obstacles
For now, the situation remains quite stable, but space is expected to become more limited towards the end of the year as cargo volumes rise ahead of the Lunar New Year (LNY).
Outlook
As usual, we expect a rush before LNY, which will have an even stronger impact on the Mediterranean area due to the Ramadan festivities taking place in the same week. Higher cargo volumes are expected prior to these events. This will further reduce available vessel space in the Mediterranean Sea.
It is also worth noting that shipping companies are closely monitoring the situation in the Red Sea.
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