We’ve seen little change to the market in the last few weeks with demand softening. This is not just happening into Australia but worldwide.
The lack of bookings has caused what we had predicted just a few weeks ago. That the freight rates would start to decrease. We are seeing this on the Northeast Asia trade lane (China) but currently the South East Asia freight rates are holding, with no reduction seen thus far.
Bookings remain easier to obtain, but forward bookings are still encouraged.
Blank sailings are starting to creep in as the shipping lines attempt to keep the rates consistent. We are keeping an eye on these and will let you know immediately if your cargo is affected.
Singapore is currently not experiencing any issues with extended dwell times.
Further increases on the Australian landside are expected early next year, with details to be provided in due course.
