Weekly highlights
- Asia-US West Coast costs (FBX01 Weekly) decreased 10% to $$1,715/FEU.
- Asia-US East Coast costs (FBX03 Weekly) decreased 17% to $2,863/FEU.
- Asia-N. Europe costs (FBX11 Weekly) stayed stage at $2,467/FEU.
- Asia-Mediterranean costs (FBX13 Weekly) decreased 2% to $2,930/FEU.
- China – N. America weekly costs stayed stage at $6.49/kg.
- China – N. Europe weekly costs elevated 4% to $4.14/kg.
- N. Europe – N. America weekly costs elevated 5% to $2.44/kg.
Evaluation
Final week, statements by the Suez Canal Authority indicated that Maersk’s return to the Pink Sea was imminent. Maersk rapidly denied they’d set a date, and now it seems all the thrill could have been largely a misunderstanding, although there are indicators that Maersk is a minimum of dipping some toes again to the lane by third events.
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So a Pink Sea rebound is probably not coming as quickly because it appeared a couple of days in the past, however a return is probably going nonetheless nearer than it has been for the final two years. The resumption, every time it happens, will trigger congestion at European hubs – the place congested ports are main some carriers to already regulate port name plans – throughout the transition again earlier than releasing vital quantities of capability again into rotation and including downward strain on charges as soon as schedules normalize.
You possibly can see our full evaluation of a Pink Sea rebound right here.
Even earlier than a Pink Sea reset, there are already indicators of rising overcapacity available in the market. This fleet development even with Pink Sea diversions nonetheless in place has meant decrease container charges yr on yr for many of 2025.
Transpacific charges fell additional to shut November, with West Coast charges down 10% to $1,715/FEU and East Coast charges easing 17% to $2,863/FEU. These dips introduced transpacific costs inside a pair hundred {dollars} of yr lows after climbing on mid-October and early November GRIs Demand is estimated to be at its lowest since early 2023, however provide aspect development can also be contributing to decrease charges. Day by day charges this week are trending up although, which might sign one other GRI try to begin December.
Extra aggressive capability administration on Asia – Europe lanes are probably answerable for carriers succeeding to keep up October and November GRIs on these trades. Costs have been stage final week at about $2,500/FEU to Europe and $2,900/FEU to the Mediterranean. Day by day charges to the Mediterranean are as much as in regards to the $3,400/FEU stage up to now this week suggesting a GRI push, although costs to Europe have stayed about stage. New EU emissions surcharges will imply increased prices to carriers on these lanes that can begin to be handed on to prospects in January.
Extreme storms in South East Asia final week disrupted ocean and air freight operations in international locations together with Sri Lanka, Thailand, Vietnam and Malaysia. Of those, Sri Lanka could have been the toughest hit, with delays reported on the Port of Colombo as companies restart.
Additionally late final week, Airbus grounded 6,000 of its A320s for a crucial software program replace with a {hardware} repair wanted for about 1,000 of those plane. Most vessels have been up to date and returned to service over the weekend, with no vital delays reported but. FedEx and UPS have grounded their MD11s following a lethal crash, and although FedEx anticipated a speedy inspection course of, plane are taking longer than anticipated to get again within the air.
The US cancelled its de minimis exemptions over the summer time driving a big reshuffle of e-commerce air cargo volumes and capability over the previous few months. The EU has dedicated to revoking its de minimis guidelines by 2028, although it could achieve this as early as subsequent yr. The UK has now additionally determined to terminate the exception. However with a later goal date of 2029, there’s concern that a fair stronger surge of e-comm items might enter the nation as soon as de minimis to the opposite main markets shut.
Freightos Air Index charges to Europe climbed 4% to $4.14/kg out of China final week and have been about stage at $3.67/kg out of South East Asia. China – N. America costs have been stage at $6.50/kg final week however present indicators of will increase this week as peak season enters its house stretch. SEA – N. America charges are at about $5.50/kg up to now this week.
