Asia/Europe Ocean Rates Holding Firm This Month

Current Asia Import rates to the UK and Europe have been extended from 15th to 31st October after the majority of carriers implemented their Peak Season Surcharges, and Westbound's general rates will be extended accordingly. 

Some carriers are still adapting their 'pay to ship' approach, so we will continue to seek spot rates for any urgent and 'must ship' orders, but that will undoubtedly mean incurring extra costs.

Vessels continue to be full, although pre Golden Week backlogs are contributing to the current position. On average, we are estimating around one week's delay for departures from Asia, but that will vary from region to region.

Considering the transport issues in the UK and covid-19 measures in ports, we still recommened allowing 2-3 weeks additional lead time in your supply chain process.

It has been reported that carriers have blanked 13 of the scheduled 97 Asia-North Europe sailings this month, which represents around 14% of the market's capacity, but at this point November is not showing blanked voyages.

This, along with a traditional small drop in November demand, to avoid Christmas and New year arrivals, may lead to backlogs being more manageable soon. However, we do expect the market to continue to be busy up until Chinese New Year at least.

 

At Westbound Logistics we pride ourselves in offering personalised and tailored logistics solutions. To find out more please call 01375 800800‚Äč oemail info@westboundglobal.com.