Asia Ocean Freight: Space Issues Return

May 13, 2024

Asia Ocean Freight: Space Issues Return

Market conditions for ocean freight services from Asia have taken a turn for the worse recently, with capacity and container shortages returning and the situation starting to resemble the post pandemic period.

Finding space on vessels has become challenging, which is attributed to;

  • increased demand ahead of peak season
  • extended journey times due to an increase in range of Houthi targeting
  • delays in existing schedules
  • carrier’s blank sailing programmes

Carriers are reporting an extreme lack of space on multiple routes from the Far East and Southeast Asia. Combined with a shortage of equipment on some regionalised origin points, capacity issues are becoming a major challenge again.

As a direct result, freight rates are on an upwards trajectory and rising fast. Even though a General rate Increase (GRI) was only implemented this month, further increases are already being applied.

We strongly recommend that customers provide us with as much notice as possible for upcoming bookings. The Unique team are continuing to work extremely hard to avoid supply chain disruption, and are monitoring developments very closely.

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