Warehousing & Freight Market Update: November 26, 2020
Special consideration should be paid to shipments originating in Ningbo, as it is quickly becoming the POL hardest hit by equipment shortages.
Ocean and Air rates in many SE Asian origins continue to increase and are now consistently over North America and slightly less than Europe.
Very strong market and severe equipment shortage expected to last through Chinese New Year 2021. All carriers will apply a big December rate increase. Important to be flexible on equipment substitution (40’ST, 40’NOR and 20’DC instead of 40’HC) and inventory anticipation. Urgent shipments should be booked on premium as necessary. Helpmestock could store at origin or at destination your anticipatory inventory.
Ongoing congestion at US and Canada West Coast ports;
please consider alternative routes (e.g. inland move via the East Coast).
Anticipate delays in picking-up containers at New York, Charleston, Savannah
terminals as well as major rail facilities in the Chicago, Cleveland, Columbus,
Louisville, Nashville and Atlanta areas due to congestion, chassis shortages
and reduced trucking capacity. Don’t hesitate to contact Helpmestock team to
avoid any demurrage and detention fees by using our warehouses in US.
Widespread restrictions for UK cargo due to port congestion and haulage limitations. Expect delays and operational issues. Some carriers have stopped booking acceptance for the UK.
Strong market expected to persist for December with no sign of downtime after Christmas. All carriers report vessel space fully utilized with high risk of rolls expected to persist through year end. Premium options available with a number of carriers across the main ocean alliances.
Warehousing & Freight Market Update is a free service from Helpmestock; the digital warehousing & freight platform. Please note that the information in our publications is compiled from a variety of sources based on the information we have to date. This information is provided to our community for informational purposes only, and we do not accept any liability or responsibility for reliance on the information contained herein.