Source: Market average rates for 40‘ containers according to www.xeneta.com
Trade Analysis: Far East Eastbound
Situation
There is currently enough space available in Asia and we have no issues with capacity. Current rates are still remarkably low and seem to have hit the lowest possible level.
Regarding services to Australia and New Zealand, customers are once again starting to book services that use transshipment ports. The direct service from Europe is still well utilized, but due to decreasing congestions at Asian transshipment hubs, there are no longer any space problems – and thus, rates for these transshipment services are falling as well.
On services to the Middle East and India/Pakistan, space and equipment is still available, with rates slightly dropping compared with the recent months. Vessels to India are well utilized, but space should not be an issue.
Obstacles
Actually the only obstacle is the sailing schedule and the associated delays.
Outlook/Solutions
The spot market remains very aggressive with low rates. Carriers are looking for volumes to fill available space on vessels and are granting competitive rates in the first half of 2023. This year will see more and more newly ordered ships entering the Asia trade, which will put additional pressure in the Far East Eastbound market.
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