Due to the current geopolitical volatility and various global events affecting the supply chain, EES Shipping aim to provide updates every two weeks on prevailing conditions.
Where necessary, we touch on the issues that impact YOU as an importer/exporter and ultimately influence:
- Rates
- Space
- Transit times / Delays
- Equipment shortages
This time, we’re adjusting the format for easier reading.
Demand inbound to Australia appears to be decreasing for the most part. Most of the cargo needed for Christmas has already arrived. Now estimated arrival times are being closely monitored to ensure shipments do not arrive during the Christmas period.
Does this mean the freight rates will decrease? Theoretically, YES. If the demand stays low, freight rates generally decline also.
We’ve seen some GRI (general rate increase) notices released by some lines, however given the current market status, this seems to be more of a dream than a reality. Numerous port pair freight rates have decreased, while others have maintained their rates through the second half of November.
Due to the softer market, bookings from most ports have been relatively easy to obtain. Very good news for you and your freight!
There have been some weather delays through China / Taiwan that have caused some vessels to depart late. This has had a knock-on effect to connections through Singapore but note that currently there is no issues with extended dwell time with transhipments.
The Red Sea crisis continues with no changes on the horizon. The USA have a new President, and it is expected that there will be a rush of cargo between now and when inauguration happens in late January.
