Situation

The crisis in the Middle East is severely impacting global trade, with challenges ranging from increased bunker charges to potential fuel shortages in Asian ports. If the situation does not improve, shipping lines may cancel certain services, which would significantly tighten space availability and increase ocean freight rates.

 Obstacles

Congestion at major Asian transshipment hubs, such as Singapore, Port Kelang and Tanjung Pelepas, is causing delays in transit times, resulting in blank sailings and reduced space availability.

 Outlook

As we head into peak season, demand is picking up, with a high volume of bookings expected to continue until the end of April and a further surge anticipated prior to the public holidays in China in the first week of May. Carriers have announced several blank sailings for April, which will affect space availability in the second half of the month. Given this outlook, we expect rates to increase in the coming weeks. The emergency bunker surcharge will remain a key variable, subject to daily changes due to the volatile situation in the Middle East.

Main Ports: Far East to North Europe

^{Source: Market average rates for 40‘ containers according to www.xeneta.com}

Main Ports: Far East to Mediterranean