Zencargo Market Update: 24th March 2025

Ocean

• April GRI implementations are being cautiously rolled out, with many carriers still evaluating utilisation levels. This is creating short-term instability, with some carriers holding off on announcing April levels entirely.
• Demand picked up towards the end of March, leading to tight space and limited availability for the remainder of the month. April bookings are progressing well, with better space availability expected.
• Carriers have not announced any new blank sailings for April, and weekly capacity remains elevated. This should support healthy market fundamentals as demand builds.
• Northern European ports (Rotterdam, Antwerp, Le Havre) are heavily congested, causing vessel delays and re-routing. The Ocean Alliance has removed Rotterdam from its FAL1 service eastbound, replacing it with a second Southampton call. Rotterdam continues to be best served by FAL6 and FAL2 services.

Air

Central China to Europe:

• Shanghai (SHA): Rates are increasing, especially for weekend departures, depending on FBA volumes. Space will be reduced this week to the Netherlands. Because of the fire at London Heathrow last week, some flights are delayed. Space will increase to Germany, however, space for dense cargo should be booked 4-5 days in advance. 
• Ningbo (NGB): Space is tight and rates continue to climb steadily. Rates should be checked on a case by case basis.

North China to Europe:

• Tianjin (TSN): Market remains stable with some carriers offering competitive rates. Space requires at least 4–5 days advance booking.
• Dalian/Beijing (DLC/PEK): Rates remain elevated across most carriers. Dense cargo can access spot rates, but bookings must be made 6–7 days in advance.
• Qingdao (TAO): Market is busy with tight space and rising rates up until at least 28 March; airlines continue to release spot pricing.

South China to Europe:

• Guangzhou (CAN): Peak season is ongoing with rates and space fluctuating daily and advanced booking is essential. 
• Shenzhen (SZX): Rates are rising across all services. All shipments should be checked on a case-by-case basis.
• Xiamen (XMN): Rates remain high with limited freighter capacity. Market is tight, and most bookings are now subject to specific space release and rate confirmation.

Ocean

• Freight rates declined in the second half of March, with carriers removing Peak Season Surcharges on long-term contracts. 
• While rates for April have yet to be finalised, early indications suggest a likely increase. Current demand has remained stable with no post-Lunar New Year surge, falling short of expectations. Carriers are maintaining healthy capacity, with vessel deployment holding above 80%.
• A looming concern in the industry is the potential imposition of new U.S. fees targeting Chinese-built and -operated vessels. 
  • The proposed entrance fees of up to $1.5 million per vessel could severely impact container shipping, with 98% of vessels calling U.S. ports potentially affected. Industry groups warn this could significantly disrupt trade flows and increase consumer prices. 
  • Carriers such as Atlantic Container Line (ACL) have stated they may cease U.S. operations if the proposals go ahead, citing unsustainable cost surges.

Air

Central China to USA:

• Shanghai (SHA): Space is hot and transit times are longer to the U.S. West Coast. Space is better compared to last week to the U.S East Coast. 
• Ningbo (NGB): Rates are steadily increasing this week. Advised to check rates on a case-by-case basis.

North China to USA:

• Tianjin (TSN): Market is a little hot, with rates increasing. Booking 4–5 days ahead is essential.
• Dalian/Beijing (DLC/PEK): Space remains constrained and most carriers have raised rates. Advance booking of 6–7 days and acceptance of flight splits are often required.
• Qingdao (TAO): Market to the U.S,. remains busy. Space is very limited and rates are increasing, especially to the U.S. East Coast. Spot pricing remains prevalent for dense or volume cargo.

South China to USA:

• Guangzhou (CAN): Peak season conditions persist, with space and rates changing daily. Availability is volatile, and early bookings are strongly advised due to rapid fluctuations.
• Shenzhen (SZX): Rates are on an upward trajectory and all bookings must be checked on a case-by-case basis.
• Xiamen (XMN): Space remains tight following freighter cancellations by some carriers. Rates vary widely by destination and timing—early booking and confirmation are critical.

Ocean

• Rates for the second half of March are stable. 
• Broader infrastructure challenges remain, with average cargo movement speeds in India well below China’s due to underdeveloped freight corridors.
• Declining schedule reliability persists across most major carriers. Only Maersk and HMM have seen recent improvements, with most others trending downward over the past six months.

Ocean

• Spot rates on the North Europe-U.S. East Coast corridor continue to soften, with most carriers cancelling April Peak Season Surcharges due to subdued demand. Mediterranean-U.S. routes, however, are seeing proposed surcharges amid stronger demand and tighter space.
• Vessel utilisation remains high across both North Europe and the Mediterranean. Carriers are proceeding cautiously with capacity, maintaining around 8% blank sailings to balance supply with demand.
• Carriers continue to adapt networks in response to alliance reshuffles and congestion. MSC, for instance, has launched a standalone East-West network with 11 Transatlantic services, including a 9-day expedited loop from Genoa to New York.
• Northern European port congestion is disrupting schedules, prompting port rotations and delays, particularly due to adverse weather conditions. These operational challenges are contributing to minor service instability, although overall service offerings are expanding.

USA

• Los Angeles / Long Beach (LA/LB): No vessels currently waiting to berth, a notable improvement (down by 4). Rail dwell remains at 10 days.
• Oakland: Five vessels are waiting, with a rail dwell of 6 days.
• Seattle & Tacoma: Congestion is easing, with only one vessel waiting and a 6-day dwell on the rail.
• New York / New Jersey (NY/NJ): Two vessels waiting, with a 4-day rail dwell.

• Norfolk: Four vessels waiting, with a 3-day rail dwell.
• Savannah: Congestion has increased sharply, with ten vessels now waiting (up by 7). Rail dwell remains at 3 days.

Benelux

Antwerp, Belgium

• PSA 913: Yard utilisation remains elevated at 90–95%, with reefer utilisation holding at 70–75%.
• PSA 869: Yard utilisation increased to 80–85%, and reefer utilisation also rose to 75–80%. Despite a high volume of vessel calls, terminal operations remain efficient, with good gang availability.
• AGW: Yard utilisation has improved to 65–70%, with reefer usage stable at 60–65%. Terminal operations have normalised, and cargo opening windows remain at 5 days before vessel ETA.

Rotterdam, Netherlands

• ECT: Yard utilisation has climbed to 80–85%. Second modalities remain under pressure, but the terminal is managing high demand by deploying all available resources.
• RWG: Yard remains highly utilised at 75–80%, supported by yard protection measures. Berth line-up is fully booked with no capacity gaps expected.
• Delta II: Operations have stabilised following the resolution of recent strike actions. No operational challenges currently reported.

United Kingdom

• Driver employment improves, but concerns remain: The number of HGV drivers in employment rose 13% year-on-year in Q4 2024, with 30,000 more UK drivers entering the workforce. However, industry leaders warn the skills shortage is far from over due to an ageing workforce and low rates of new entrants. Nearly half of current drivers are over 50, and HGV testing rates fell over 20% year-on-year​.
• Windsor Framework changes delayed: The introduction of the next phase of GB-NI parcel movement rules under the Windsor Framework has been postponed to 1 May 2025. While the delay provides more preparation time, industry groups are calling for urgent awareness and support measures to help businesses adapt and avoid disruption​.

Europe Public Holidays

We anticipate a shortage of availability and the occurrence of delays around the bank holiday periods. Plan ahead and allow extra time for your products to be delivered.

• 25 Mar (Tue): Cyprus, Greece
• 31 Mar (Mon): Malta, Spain
• 1 Apr (Tue): Cyprus
• 17 Apr (Thu): Denmark, Portugal, Spain
• 18 Apr (Fri): Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland (Eire), Latvia, Luxembourg, Malta, Netherlands, Portugal, Romania, Slovakia, Spain, Sweden
• 19 Apr (Sat): Bulgaria, Sweden
• 20 Apr (Sun): Bulgaria, Croatia, Denmark, Estonia, Finland, Germany, Greece, Italy, Lithuania, Netherlands, Poland, Portugal, Romania, Slovenia, Sweden
• 21 Apr (Mon): Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland (Eire), Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Romania, Slovakia, Slovenia, Spain, Sweden
• 22 Apr (Tue): Cyprus
• 23 Apr (Wed): Spain
• 25 Apr (Fri): Italy, Portugal
• 26 Apr (Sat): Netherlands
• 27 Apr (Sun): Netherlands, Slovenia
• 1 May (Thu): Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Finland, France, Germany, Greece, Hungary, Italy, Latvia, Lithuania, Luxembourg, Malta, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden
• 2 May (Fri): Hungary, Latvia, Romania, Slovenia, Spain
• 3 May (Sat): Poland
• 4 May (Sun): Austria, Latvia, Lithuania
• 5 May (Mon): Ireland (Eire), Latvia, Netherlands
• 6 May (Tue): Bulgaria
• 8 May (Thu): Belgium, Czech Republic, France, Germany, Slovakia
• 9 May (Fri): Luxembourg
• 15 May (Thu): Spain
• 17 May (Sat): Spain
• 24 May (Sat): Bulgaria
• 26 May (Mon): Bulgaria
• 29 May (Thu): Austria, Belgium, Denmark, Finland, France, Germany, Luxembourg, Netherlands, Sweden
• 30 May (Fri): Belgium, Croatia, Denmark, Spain
• 31 May (Sat): Spain