Transport Update 29th November

Asia → North America (Transpacific Eastbound)

Rates

• According to the Freightos Baltic Index (FBX), rates have increased on the Asia to North America route. 
  • Rates have increased by 3% on the Asia to US West Coast route at $14,677 per 40ft. 
  • On the Asia to US East Coast route, rates have increased by 3% to $16,633 per 40ft.

Ports

• Congestion at Southern Californian ports has not been affected by the failure to introduce the increased container dwell fee. 
  • After talks on the 22nd November, the San Pedro Bay ports announced that the container dwell fee would be deferred for a third time, and not ‘be considered before’ 29 November. 
  • This dwell fee has stated that a fee of $100 dollars will be charged per container per day for boxes remaining at terminals after nine days for truck movements, and after six days for rail.
• The number of container ships waiting for berths and anchored off the ports of Los Angeles and Long Beach remain above 80. 
  • According to the Port of Los Angeles, the average wait time has increased to over 18 days. 

Asia → Europe (Far East Westbound)

Rates

• According to the FBX index, rates between China and Europe have remained relatively stable.
  • On the Asia to North Europe route, rates have increased by 0.2% to $14,368 per 40ft. 
  • Rates have remained the same for the Asia to Mediterranean route at $13,014 per 40ft. 
• Following great increases in FAK rates over the past 18 months, shippers now face significant increases in bunker surcharges.
  • The price of Rotterdam-sourced low-sulphur fuel oil (LSFO) jumped last week by $14.50 per tonne, to $573.50, with the cost of heavy fuel oil (HFO) increasing by $13, to $440.50 per tonne.
  • The soaring cost of bunkers has triggered an uplift in ocean carrier fuel mechanisms, with several lines now rolling out increased surcharges for next month.
    • Maersk advised customers this week of an increase in its environmental fuel fee (EFF) for all Maersk Spot and contract cargo for vessels sailing from 1 December, “until further notice”.

Equipment

• See below

Ports

• Berthing and landside delays at Felixstowe remain ‘critical’.
  • 2M partners Maersk and MSC have extended the omission of the AE7/Condor loop until March next year. 
  • Maersk have announced that Felixstowe import containers would continue to be overlanded at Wilhelmshaven and relayed via shuttle service. 
  • MSC’s UK boxes will land at Antwerp and be relayed to Felixstowe. 
• Antwerp is also positioning itself to be the UK’s gateway to Europe. 
  • The merger of the ports of Antwerp and Zeebrugge into the Port of Antwerp-Bruges will create a new ‘super port’ which would be greater than Europe’s largest port, Rotterdam. 

Europe→ USA (Transatlantic Westbound)

Rates

• FBX rates have increased slightly on the Transatlantic route, with rates now up by 0.1% to $17,451 per 40ft. 

Air