Golden Week Approaches: A Mixed Asian Freight Market Outlook
We are fast approaching China’s National Day on Thursday, which commemorates the founding of the People’s Republic of China in 1949 and marks the beginning of the annual Golden Week period.
Running from 1st October until 7th October, the holiday brings nationwide celebrations, particularly in Beijing, alongside factory closures and reduced business activity. Some factory disruption has already begun due to the Mid-Autumn Festival, held on 25–27 September, falling so close to Golden Week this year.
The main shipping markets currently present contrasting conditions. Asia–Europe demand has eased following an early peak season, offering some relief for now. However, the transpacific peak season remains busy, with strong demand, cancelled sailings and restricted capacity keeping rates elevated.
Storm-related disruption continues to contribute to congestion at Asian ports. Some terminal delays in Shanghai have reached six to eight days, while Ningbo also faces congested yards. In Europe, Rotterdam’s crowded terminals and potential indefinite German port strikes remain concerns.
Closer to home, reports suggest there are no immediate operational issues at Felixstowe, Southampton or London Gateway, where recent congestion has eased.
Disruption around Hormuz continues to mean high fuel prices, maintaining pressure on fuel surcharges. President Trump rejected Iran’s latest proposal, which included reopening the strait, but further talks are expected this week, offering some hope.
There is also encouragement at Suez. This month, Maersk and Hapag-Lloyd announced the return of four additional services to the canal route, while September figures reported by the Suez Canal Authority show 67 Maersk transits and 60 by CMA CGM. Other carriers are also considering returns or trial passages, offering the potential for improved transit times and capacity from Asia to Europe.
As ever, Atlantic Pacific will continue to monitor developments and keep customers informed of any changes that may affect their shipments.
We wish all our customers, partners and colleagues celebrating a happy Golden Week!
