Shippers, please note: freight rates have increased across all routes!

PART 01

The US route is basically full! Price increase is expected next month!

As for the US routes, as of the end of October, the routes to the West Coast and East Coast of the US were basically full, and only some shipping companies had a small number of sailings available for booking. This situation is mainly affected by the e-commerce platforms preparing for Black Friday and Christmas. This high demand is expected to continue until mid-November. Before the end of this month, the freight level will remain relatively stable, but in early November, the freight rate is likely to increase. It is reported that Mediterranean Shipping Company (MSC) has announced that it will increase the freight rate by US$300 per forty-foot container (FEU).
Industry analysts pointed out that the phenomenon of full loads on this route is mainly the result of multiple factors. These include the uncertainty of the US political environment on tariff policies, which has led to customers rushing to ship goods, and the impact of the early arrival of the Chinese New Year on the supply chain. In addition, the dispute over the automation process of US ports has not been resolved, and there is also the risk of strikes, which have further exacerbated the current tensions.

PART 02

The price of the European and American lines is expected to increase in November!

With the launch of long-term contract negotiations for the container shipping industry in 2025, European routes, as the leader, are expected to enter an intensive negotiation phase between shipping companies and shippers in November. According to market information, some shipping companies plan to increase the freight rate per 40-foot container to US$2,500-3,000, an increase of 25%-36% compared to last year.

As for the Europe-Europe route, due to the announcement of price increases in November by shipping companies, most voyages were full at the end of October, and bookings were good. Especially in East China, due to the suspension and delays in the first week of November, it is estimated that the capacity of European routes will be reduced by about 28%. In addition, the suspension of eastern Mediterranean routes is particularly serious, and it is expected that there will be a higher possibility of price increases in early November, while the western Mediterranean routes appear to be relatively weak. At the same time, shipowners are considering further increasing freight rates through general rate increases (GRI), but the final freight rate trend still depends on the specific market conditions.

PART 03

Prices on all China-India red routes are rising!

As for the China-India-Red Sea route, freight rates on all routes increased before the end of the month, especially on the India and Pakistan routes, where freight rates soared due to full shipping space. Freight rates on the Middle East and Red Sea routes also increased accordingly. Currently, the specific freight rates from week 44 to week 45 have not yet been announced, but shipping space is already extremely tight. Some customers who are eager to ship and are worried about further increases in freight rates have already booked shipping space in advance to lock in prices.

PART 04

Price increase in South America!

On the South American route, due to the impact of Christmas and New Year stocking, there was a shortage of ships and a strong demand for goods. This imbalance between supply and demand led to widespread space shortages and even overbooking in late October, including on the east and west coasts of South America. It is expected that freight rates will increase in November.

PART 05

Price increases are expected to continue in Southeast Asia!

On the Southeast Asian routes, the market as a whole shows a trend of tight space and rising freight rates, and the freight rate increases on some routes are particularly significant. Near the end of the month, most shipping companies have no extra space available for booking, and some regions have even been overbooked until the first week of November. Currently, only space can be booked for the second week of November. It is expected that freight rates will continue to rise in the future.

-END-

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