Ocean freight market update
- Rate changes: The freight rates for most Transpacific Eastbound (TPEB) routes remain low.
- Market changes: The TPEB capacity is abundant for weeks after the Chinese New Year, while demand remains at a low level. It is expected that carriers will carry out routine blank sailings to stabilize the rates. Port and rail congestion on the west coast of Canada remain low.
- Recommendation: Book freight shipping at least 2 weeks prior to the cargo ready date (CRD), and have backup plans ready for possible blank sailings.
- Rate changes: Generally reduced for the second half of February.
- Market changes: Affected by low demand, rates will remain at a low level in the coming weeks, despite a gradually increasing booking volume.
- Recommendation: Set a buffer time when planning your shipments.
Air freight/express market update
- Rate changes:
Lowered base shipping rate: Electronics Parcels (Premium), Parcels (Premium), Electronics Parcels (Standard), Parcels (Standard), Electronics Parcels (Economy), Parcels (Economy)
Decreased base freight rate: Freight via JL (Economy)
- Market changes: Demand in export to Southeast Asian countries remains low. The transport capacity is abundant. The Thailand export market picked up slightly this week, but the overall demand remains weak.
Disclaimer: All information and views in this post are provided for reference purposes only and do not constitute any investment or purchase advice. The information quoted in this report is from public market documents and may be subject to change. Alibaba.com makes no warranties or guarantees for the accuracy or integrity of the information above.