Capacity Issues Return For Asia Ocean Freight Services

May 09, 2024

Capacity Issues Return For Asia Ocean Freight Services

 

The current market conditions for ocean freight services from Asia are starting to feel like the days of the pandemic, as widespread capacity issues have returned.

As we approach the traditional peak season, carriers are reporting a severe lack of space across multiple routes from the Far East and Southeast Asia.

As a result, ocean freight rates are spiralling and despite a General rate Increase (GRI) being implemented just last week, further increases are already being applied. In some cases steamship lines have even adjusted rates on cargo that has already been booked.

The reason for the squeeze on capacity is understood to be an increase in demand, journeys being extended even further due to the increased range of Houthi rebels, delayed schedules, and carrier’s blanked sailing programmes.

Just like the period that followed the pandemic outbreak, equipment shortages are also hampering bookings and making the situation worse.

It is fair to say that capacity issues are becoming a major challenge again.

While, the Atlantic Pacific team are working hard to avoid disruption to supply chains, we ask that customer’s provide as much notice as possible of bookings and identify urgently required shipments.

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