Dive Brief:
- Increased blanked sailings during Golden Week in China might help keep Transpacific rates stable in the near term, according to a Freightos weekly update from Oct. 6.
- Asia to U.S. West Coast spot rates fell 3% week over week at $8,322 per forty-foot equivalent unit, per Freightos. Asia to U.S. East Coast spot rates were at $9,606 per FEU, staying level week over week.
- Still, blank sailings stemming from weather-related disruptions at ports in China may keep the base of Transpacific rates elevated, Freightos said.
Source: Freightos
Dive Insight:
China’s Golden Week is a time when ocean shippers tend to catch their breath, but not this year, Albert Zerega, SVP of commercial at American Global Logistics, said in a LinkedIn post. Currently, the ocean shipping market should be entering months of low demand post-peak season and pre-Lunar New Year rush, Freightos reported.
Factory floors and logistics operations typically slow down during the week-long holiday, which this year started Oct. 1 and ran through Oct. 7. This year, carriers decided to push already-elevated rates as 157 vessels wait at berth in Shanghai as of mid-September, Zerega said. Currently, delays are running about seven to 10 days.
Looking ahead, current disruptions are expected to stretch into October, per Zerega’s LinkedIn post.
“Typhoon-related disruption at major Asian gateways has contributed to congestion, port omissions, vessel bunching, and schedule changes. Recovery can take several weeks as terminals and carriers work through accumulated cargo volumes,” according to Ascent Global Logistics.
A drawn-out peak shipping season also appears to be ending, according to the National Retail Federation and Hackett Associates’ Global Port Tracker published Oct. 8. Shipper frontloading due to U.S. tariff deadlines and surcharges initially prompted an early peak season. The surge in demand stretched through August, with the NRF forecasting September to possibly be the busiest month of the year for imports at major ports.
“Most holiday merchandise has arrived, and the remainder of the year is just a matter of last-minute replenishment and preparation for early 2027,” NRF VP for Supply Chain and Customs Policy Jonathan Gold said in a press release.
