In recent weeks, a severe ocean freight capacity crunch across most major trades has sent freight rates on a skyrocketing trajectory. This rather sudden change in supply and demand has been fueled by high demand and network bottlenecks in part due to bongdaso com vn Red Sea situation.
Our traffic light update has turned red across all trades, except Intra-Asia and bongdaso com vn current freight rate development mirrors that of bongdaso com vn COVID-19 pandemic days. bongdaso com vn latest SCFI update today shows an average price on Asia to North Europe of USD 7.898/40’, and as we speak, bongdaso com vn coming weeks show no relief for shippers across bongdaso com vn globe. A similar picture is apparent on bongdaso com vn Trans-Pacific trade from Asia to bongdaso com vn US, and also here, there is no outlook for short-term improvement.
Capitalising on bongdaso com vn situation all ocean carriers have imposed General Rate Increases (GRIs), Peak Season Surcharges (PSS) and an array of other charges. bongdaso com vn current situation yet again also puts a spotlight on bongdaso com vn difference in rate levels between short and long-term rates. However, it is also worth noting that allocation cuts are being made on long-term rates as well, forcing all shippers into bongdaso com vn short-term market or alternatively accepting revision of rate levels.
Hapag Lloyd's CEO provides his assessment of bongdaso com vn current situation
Hapag Lloyd CEO Rolf Habben Jansen describes bongdaso com vn situation in an update to customers and investors on Wednesday, June 5, as follows: ‘Container rates have reached corona levels, and shipping companies’ capacity is stretched to bongdaso com vn limit at bongdaso com vn moment due to bottlenecks and high demand, but bongdaso com vn situation is only temporary.’
And continued; ‘I still think it’s a temporary thing. Then we can argue about how many weeks it will still last, but I don’t think that it will last until bongdaso com vn end of bongdaso com vn year,” says Jansen about bongdaso com vn current unusually high spot rates and capacity shortages.[1]
MARKET UPDATE: 7 JUNE 2024
This assessment mirrors our current outlook on bongdaso com vn market where bongdaso com vn expectation is that bongdaso com vn coming weeks and months will continue to be very challenging in terms of available capacity. There is a consensus that as we speak, we are at bongdaso com vn peak of bongdaso com vn storm, but any improvement will only be gradual.
Further down, see bongdaso com vn latest SCFI numbers updated today and our traffic light update covering both ocean and airfreight.
Airfreight
Airfreight overall remains at elevated levels, especially on those routes impacted by bongdaso com vn Red Sea scenario. However, there are some lanes where typical summer trends offer ad hoc market opportunities. It is clear that bongdaso com vn same dynamic with sustained higher demand has kicked in, with no major or immediate outlook that this will change in general.
We wish to stress that we fully acknowledge bongdaso com vn gravity of bongdaso com vn situation, and our teams are working around bongdaso com vn clock to mitigate bongdaso com vn worst effects of bongdaso com vn situation. Equally, we appreciate bongdaso com vn cost impact due to bongdaso com vn recent development, and we are doing our utmost to ensure as minimal impact on your business as possible.
AIRFREIGHT
OCEAN FREIGHT
Source: https://www.scangl.com/news/ocean-freight-code-red-amidst-severe-capacity-crunch/
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