Zencargo Market Update: 13th January 2025

Ocean

• Blank sailings are increasing with blank sailings in place for February as carriers prepare for the anticipated demand decrease post-Chinese New Year. Space remains constrained, and forward bookings are advised for the next 1-2 weeks.
• Liverpool is no longer a direct call for MSC and is now serviced via transshipment across all alliances​
• The Asia-Europe trade absorbed 59% of the global container fleet’s new capacity in 2024. While this expansion was aimed at meeting increasing demand, concerns about overcapacity are emerging, with rates beginning to soften as carrier expectations for January were not met​
• January rate increases were unsuccessful, with rates extending from the second half of December into early January. However, rates are expected to decrease further in the second half of January as carriers aim to maintain high utilisation during the Chinese New Year period​.

Air

Central China to Europe:

• Shanghai (SHA):  Rates have increased and are expected to continue this trend next week. 
• Ningbo (NGB): Rates remain the same as last week and it is recommended to book space at least one week in advance. 

North China to Europe:

• Tianjin (TSN): The market is slow and it is recommended to book cargo 4-5 days ahead. 
• Dalian/Beijing (DLC/PEK): Rates with most airlines are fluctuating, and a 6-7 day advance booking is required for volume cargo, along with the acceptance of flight splits.
• Qingdao (TAO): The market is increasing this week due to the upcoming Lunar New Year holidays. Space is not as tight to most EUR airports but rates are increasing significantly to AODs. 

South China to Europe:

• Guangzhou (CAN): The market is slowing down this week, but it may become busier next week. Rates should be checked on a case-by-case basis. 
• Shenzhen (SZX): The market is stable this week and all shipments need to be checked on a case-by-case basis with the carrier.
• Xiamen (XMN): The EU market remains the same as last week.

Ocean

• The ILA and USMX announced a tentative six-year master agreement, averting the strike that was anticipated for early 2025. Negotiations, which concluded just a week before the existing contract extension expired, focused heavily on automation concerns and job creation initiatives tied to new port technologies.
• Shippers can now resume normal operations without proactive rerouting to the West Coast. However, final ratification is pending approval from ILA and USMX members, with additional details expected shortly​.
• There are rate increases for the first half of January on this trade lane.

Air

Central China to USA:

• Shanghai (SHA): Rates have increased with an expected increase into next week. 
• Ningbo (NGB): The market is stable and it is recommended to book one week in advance. 

North China to USA:

• Tianjin (TSN): The market is slow and rates continue to fluctuate. To book space for cargo, it is recommended to book 4-5 days in advance. 
• Dalian/Beijing (DLC/PEK): Rates with most airline continue to fluctuate this week. 6-7 days are required in advance to book for volume cargo. 
• Qingdao (TAO): The market to the US is stable this week and space is not as tight to most US airports. Rates are decreasing slightly to most US airports. Airlines are still releasing spot rates for dense cargo. 

South China to USA:

• Guangzhou (CAN): The market is slowing down this week, but may become busier next week. 
• Shenzhen (SZX): The market is stable this week and shipments will need to be checked with a carrier on a case-by-case basis. 
• Xiamen (XMN): The US market is stable and final rates depend on a case-by-case basis. 

Ocean

• Rates have started increasing in January and space and equipment availability remain relatively healthy, but certain inland container depot (ICD) areas are reporting delays in container handover processes.

• Traditional peak season demand is ramping up due to North India’s grape season, which will continue to boost activity.

• Transshipment (TS) ports such as Colombo continue to face congestion and adverse weather conditions at North European ports are disrupting schedules and reducing reliability.

Ocean

• Space remains constrained across key transatlantic routes. Blank sailings continue through January, with nearly all alliances announcing blank sailings up to Week 5 to manage capacity and stabilise rates​.
• Ocean Network Express (ONE), in collaboration with CMA CGM, COSCO, OOCL, and Evergreen Line, will launch three new transatlantic services in February 2025, connecting major European ports with the U.S. East and Gulf Coasts.

• Yang Ming will introduce its expanded 2025 transatlantic network, linking major Continental Europe hubs with both the U.S. East and West Coasts.
• COSCO Shipping has announced enhancements to its transatlantic service offerings, set to commence in February, aimed at improving connectivity between Europe and North America​.

USA

• Los Angeles/Long Beach: 4 vessels waiting to berth, with a 9-day rail dwell and 65% yard capacity.
• Oakland: 3 vessels waiting, 8-day rail dwell reported.
• Seattle and Tacoma: 5 vessels waiting, improved from previous levels. Rail dwell is stable at 7 days.
• New York/New Jersey: 5 vessels waiting, 5-day rail dwell, and yard capacity at 67%.
• Norfolk: 6 vessels waiting, with a 3-day rail dwell reported.
• Savannah: Significant improvement with only 3 vessels waiting and a 3-day rail dwell.

Benelux

Antwerp, Belgium:

• PSA 913: Yard utilisation between 75–80%, reefer capacity at 70–75%.
• PSA 869: Yard utilisation 70–75%, reefer capacity at 45–50%.
• AGW: Yard utilisation fluctuates between 70–75%. Reefer capacity is stable at 70–75%. Cargo opening times remain set at 5 days prior to vessel ETA.

Rotterdam, Netherlands:

• ECT: High yard utilisation at 80–85%. Ongoing labour disputes over the expired CLA may lead to strike actions, though none have been confirmed yet.
• RWG: Yard utilisation remains between 60–65%, with full berth line-up utilisation.

United Kingdom

Road/Rail

• The newly implemented Container Booking System (CBS) at the Port of Felixstowe has seen a mixed reception since its rollout on January 1. The port has suspended charges for late notifications and peak-time bookings during January to allow companies to adjust. However, industry representatives criticised the last-minute communication, which caused disruptions to hauliers’ schedules and increased administrative workloads​.
• The TEG Road Transport Index reported a 4.5% month-on-month increase in December 2024, with haulage prices climbing by 5.01%. This reflects increased seasonal demand during the festive period. Year-on-year, haulage costs surged by nearly 10%, attributed to rising operating costs, fuel prices, and HGV driver salaries exceeding national averages​.

European Bank 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.

January 24 (Friday): Romania

February 3 (Monday): Ireland (Eire)

February 8 (Saturday): Slovenia

February 10 (Monday): Malta

February 16 (Sunday): Lithuania

February 24 (Monday): Estonia

February 28 (Friday): Spain

March 1 (Saturday): Spain

March 3 (Monday): Bulgaria, Cyprus, Greece, Luxembourg

March 4 (Tuesday): Portugal

March 8 (Saturday): Germany

March 11 (Tuesday): Lithuania

March 15 (Saturday): Hungary

March 17 (Monday): Ireland (Eire)

March 19 (Wednesday): Austria, Malta, Spain

March 25 (Tuesday): Cyprus, Greece

March 31 (Monday): Malta, Spain

*Not in all regions