Market Update – Sea Freight
Both space and equipment is tight at the moment with fully booked vessels and empty container depots. November which is normally slow month, has proven the opposite and vessels to and from Asia are fully booked. This has caused the rates to rocket and are currently at all time high levels.
The shortage of containers is especially low in Asia where the demand of 40’HC has been extremely high. This is a result of that Q3 2020 has been the strongest export quarter ever from Asia and so far we don’t see any decrease in volumes.
Status in the Nordics
Nordic ports are being hit particularly hard with equipment shortage and space constraints on both import and export as the ocean carriers want their container turn-around speeds to increase so the units go only to European base ports and then directly back to the Chinese market where they can generate high freight income. This has already increased rates drastically for the Nordic market, particularly for imports, but rates are expected to increase further and disruptions will be extensive on both import and export services with vessel omittances, schedule changes and booking blocks/cancellations.
To meet this situation, we kindly ask you to send us your forecasts in order to plan your bookings in good advance. As we see it, this situation will last until Chinese New Year in February.