Source: Market average rates for 40‘ containers according to www.xeneta.com
Trade Analysis: Far East Westbound
Situation
Volumes towards the end of April are not as strong as expected. The current holidays in China have already led to reduced bookings at the end of April and will also have an impact in the first half of May. After a few weeks of rate increases, we expect to see the opposite trend in the next two to three weeks.
Obstacles
Schedule reliability is an ongoing challenge for shippers. Congestion in European ports, particularly Antwerp and Rotterdam, is delaying vessels either entering Europe or returning to Asia. These delays may cause equipment problems for upcoming sailings in the second half of May and in June.
Outlook
We expect volumes to increase in the second half of May and in June, driven by the textile industry. Apparel shippers will be shipping their latest collections along with the first pre-Christmas cargo. Under normal circumstances, this would put pressure on space and equipment and push up prices in the short term. However, due to the current challenges in this trade between Asia and the USA, several carriers are cancelling services and reassigning vessels to the Asia to Europe lane. This is leading to a better situation on this trade.
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