According to the latest report from the Kuehne + Nagel seaexplorer ship monitoring platform, due to port congestion, bad weather or ship problems on all continents facing operational disruptions, 595 ships of major global carriers are anchored outside ports waiting for berths.
Global port congestion as of November 8: (red dots represent ship groups, orange represents ports with congestion or operational disruption)
However, the good news is that spot rates have generally peaked, and east-west route rates are expected to stabilize in the next few weeks. Average eastbound transpacific container freight rates have fallen by a quarter in recent days, according to the Freightos Baltic Index.
The three major alliances have canceled 34 voyages in the next four weeks!
Drewry’s latest report on the 12th announced that among the 546 sailings on major routes such as trans-Pacific, trans-Atlantic, Asia to Northern Europe and the Mediterranean, it was announced between weeks 46 and 49. The number of canceled voyages has reached 50, with a cancellation rate of 9%.
According to Drewry’s previous data, 76% of blank sailings will occur on the eastbound trans-Pacific trade route during this period.
In the next four weeks, THE Alliance announced the cancellation of 24 voyages, followed by 2M and Ocean Alliance, which announced the cancellation of 6 and 4 voyages respectively.
It is clear that the global supply chain crisis will not resolve itself in the short term. Port congestion is a global phenomenon that causes significant delays in shipping schedules and forces carriers to hop ports.
The trans-Pacific route container freight index experienced the largest decline in 2 years
The average eastbound transpacific container freight rate has dropped by a quarter in recent days, according to the Freightos Baltic Index.
In just one week from November 2 to November 8, the container freight rate from China to the West Coast of the United States dropped by US$4,806, accounting for 26% of the price on November 2 , falling to $13,924 per FEU.
The average freight rate from China to the East Coast of the United States fell by 20% to US$15,865 per FEU, both of which were the highest container freight rates from China to the United States in two years. Decline.
Judging from shifl’s statistics, the last time this level occurred was in mid-July this year. At that time A large number of shippers are preparing to stock up for Christmas.
According to Freightos, freight rates rose 70% in the last two weeks of July, the highest rate in the past 18 months, as U.S. consumers spent more on goods. Maximum increase.
Freightos research director Judah Levine said: “High surcharges were the main factor in the price surge in July this year, but since June this year, there have been reports that many trans-Pacific flights Bookings of space can be completed without paying high surcharges, so demand began to rise. At the same time, continued port congestion and low inventory also kept freight rates firm.”
It has started to fall from the peak, but freight rates will remain high
The shipping news website Splash surveyed multiple shipping analysts Division, concluded: Container spot prices are declining and are unlikely to see any significant increases in the remaining month or so of 2021.
Profits from liner shipping are expected to exceed $150 billion this year, analysts say, more than five times the previous best. However, as the peak season passes, prices in the spot market for container shipping enter a “free fall” as liner companies focus on getting more customers to sign long-term contracts with them.
Simon Heaney of Drewry said: “We think spot freight rates are likely to continue to fall over the rest of the year, but they are still high, so Next year’s contract price will still not be very low.”
Peter Sand said: “The global average spot freight price has now begun to fall from the peak, unless another black swan event occurs, otherwise There will be no shift.”
The founder of a freight forwarding company commented: “The holiday shopping rush appears to be over, and the goods that have been ordered are being loaded on ships outside U.S. ports. Across thousands of containers, freight rates on the spot market will continue to fall through the end of November.”</p
