Ocean freight market update
- Rate changes: The freight rates for Transpacific Eastbound (TPEB) routes are trending downward due to low demand.
- Market changes: US-bound TPEB rates decreased, with most routes seeing minor rate drops in the past week. The Canadian market and its rate conditions are similar to those of the US. As a result of this low demand, port and railway congestions on Canada’s west coast are reduced.
- Recommendation: Book freight shipping at least two weeks prior to the cargo ready date (CRD), and have backup plans prepared for potential blank sailings.
- Rate changes: Rates either dropped or remained at the same level for the first half of March.
- Market changes: The blank sailings after the Chinese New Year (CNY) mean that the supply and demand of transport capacity are re-balanced. Bookings have gradually increased, but are not performing as strongly as they did before CNY. Rates are still under downward pressure.
- Recommendation: Set a buffer time when planning your shipments.
Air freight/express market update
- Rate changes:
Decreased base shipping rate: Freight via JL Europe (Economy), UPS Saver (Premium), HK UPS Saver (Premium), UPS Expedited (Standard), HK UPS Expedited (Standard), Special Product Express (Standard)
Increased base shipping rate: Freight via JL US (Economy), Plant Extract Express (Standard), Beauty Express (Standard)
- Market changes: Demand in exports to Southeast Asian countries remains low, with little sign of increase for the month of March.
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.