Zencargo Market Update: 3 November 2026

Ocean

• Freight All Kinds (FAK) rates for the first half of November have largely been extended from October levels following the failure of a planned general increase.
• Emergency Bunker Surcharges (EBS) have continued to rise, with official carrier announcements reflecting recent average increases in global bunker costs.
• Space remains stable but is tightly controlled on Named Account Contracts (NACs) and long term agreements. MSC continues to strictly manage its cargo mix, while full allocations remain restricted across the board as carriers use blank sailings to clear backlogs of rolled cargo from Asia.
• Schedule disruptions persist with frequent vessel changes and delays in Asia, while adverse weather conditions have halted or reduced port operations across Europe over the past fortnight.
• Blank sailings are expected to reduce overall November capacity by approximately 9%. The Ocean Alliance accounts for over half of these cancellations, with MSC and the Premier Alliance making up the remainder.
• There are now nine main services officially routed via the Suez Canal. These include CMA’s OCR, Gemini’s NE4/AE5, NE3/AE3, and NE1/AE2 loops, Premier’s FE1, and MSC’s Lion, Britannia, Swan, and Albatros services. While other loops officially remain on the Cape of Good Hope routing, carriers may opt for last minute Suez transits to recover from schedule delays.

Air

Central China to Europe

• Shanghai: Export rates to the UK are currently tracking at elevated levels. Shippers should continue to verify rates on a case-by-case basis as the market adjusts post-Golden Week. Better pricing may be secured depending on specific cargo details.
• Ningbo: Air freight rates are still rising, requiring case-by-case rate checks.

North China to Europe

• Tianjin: The market is active and rates have increased, though specific carriers are offering lower rates to London Heathrow (LHR) on longer transit times. Other carriers provide earlier departures but require 4 to 5 days of advance booking. Overall, rates are expected to maintain a higher level.
• Dalian/Beijing: Rates across most major airlines remain stable but elevated this week. Dense cargo can access spot rates, while volume cargo requires booking 6 to 7 days in advance and accepting split flights.
• Qingdao: The market to the EU remains busy with tight space to most airports and estimated departures tracking around 5 November. Air freight rates to main airports have increased this week, though airlines are still releasing spot rates for dense and volume cargo. Space to Europe is currently open, whereas capacity for the USA is tight.

South China to Europe

• Guangzhou: With the upcoming APEC summit in Shenzhen (SZX) this November, many airlines will cancel flights out of SZX, causing Guangzhou (CAN) to become busy with very tight space. Current indicative rates are elevated, and spot rates must be checked case-by-case based on actual flight dates.
• Shenzhen: The market is trending upward with increasing air freight costs. Deferred services to main EU airports offer lower rate tiers, but all shipments must be checked case-by-case with carriers.
• Xiamen: Rates are elevated but expected to remain relatively stable this week. Better pricing may be secured based on specific cargo details, with all quotes handled case-by-case.

Ocean

• FAK rates for the first half of November have been extended for the US West Coast and inland destinations routed via the West Coast, maintaining October pricing levels. Conversely, the US East Coast has seen a slight rate reduction.
• Strong import demand is forecast to support elevated trade rates into the New Year, although the prepaid market is beginning to show some competitive options.
• Peak Season Surcharges (PSS) on Named Account Contracts (NAC) are continuing into November, applied alongside separate Panama Canal Surcharges.
• MSC Diamond Tier space remains available.
• Overall space remains very limited, and shippers are strongly advised to book three to four weeks in advance. While carriers deployed record capacity to the US West Coast during the Golden Week period, they are now actively matching capacity to softer winter demand to protect rate levels.
• Blank sailings have eased recently, though this has been largely driven by vessel bunching and double sailings.
• Congestion and limited daily vessel movements continue to restrict the Panama Canal. In the US, overall port congestion is increasing, and rail terminal dwell times remain high.
• On a regulatory note, the US has proposed extending the suspension of port fees for China-linked vessels until January 2027, as the current suspension is set to expire on 10 November.

Air

Central China to USA

• Shanghai: Export rates to the US West Coast have increased due to the rapid growth of e-commerce goods, with further weekend price increases expected. Space remains tight ahead of the Thanksgiving and Christmas holidays, making advance booking essential. Elevated oil prices and restricted flight supply are keeping transportation costs historically high, and rates are unlikely to fall before mid-December. Rates to the US East Coast and Midwest are also high due to insufficient capacity, with weekend freight rates likely to rise further.

North China to USA

• Tianjin: The market is tight with stable rates this week. Freighter options provide the earliest departure space, while specific carriers offer better pricing to major West Coast hubs (Los Angeles, San Francisco, Seattle) but require 6 to 7 days of advance booking. Rates are expected to stay at a higher level.
• Dalian/Beijing: Rates across most major airlines remain stable at higher levels this week. Space is tight and requires one week of advance booking. Spot rates remain available for dense cargo, but volume cargo requires 6 to 7 days of advance booking and the acceptance of split flights.
• Qingdao: The US market remains busy with slightly tight space to both the East and West coasts. Air freight rates have increased for both coasts this week, though airlines continue to release spot rates for dense and volume cargo.

South China to USA

• Guangzhou: Due to the upcoming APEC summit in Shenzhen (SZX) causing flight cancellations, Guangzhou (CAN) will experience high volumes and tight space. Current indicative rates are elevated, and spot rates must be verified case-by-case according to actual flight dates.
• Shenzhen: The market is heating up, and all shipments must be checked case-by-case with carriers. Rates for deferred services to both the US West and East coasts remain elevated.
• Xiamen: Rates have not changed significantly following cost increases in previous weeks. All rates must be checked on a strict case-by-case basis.

Ocean

• FAK rates for the first half of November are decreasing across the Indian market, though a distinct pricing gap remains between North Indian main ports (Mundra and Nhava Sheva) and South Indian ports (Ennore and Tuticorin). FAK rates out of Bangladesh (Chittagong) are also softening across most major carriers.
• FAK space out of India remains generally healthy following a minor peak in demand surrounding the Diwali holiday.
• While space and container availability out of Chittagong remain stable, equipment shortage issues are resurfacing at certain Indian Inland Container Depots (ICDs). Specific carriers are reporting severe container deficits out of Ennore that are expected to last through the end of week 45.
• Schedule reliability on the Indian Subcontinent to Europe trade lane decreased by 2.2 percentage points month-on-month across August and September, settling at 59.8%. Hapag-Lloyd and Maersk were the most reliable carriers at 97.4%, followed by MSC at 79% and CMA CGM at 52%.
• Service level reliability remains mixed: the joint Australia Express/NEWMO loop and MSC’s NWC-IPAK service performed strongly at 85.2% and 83% respectively, while CMA CGM’s EPIC service lagged significantly at just 33%.

• Mundra: Yard density is high, impacted by port disruption as a result of poor weather.
• Nhava Sheva: Yard density is high, impacted by port disruption as a result of poor weather.
• Southern Ports: Cyclone Arnab impacted the southern coast of India last week, and ongoing stormy weather is expected to cause continued operational disruption.

• Colombo: Severe congestion continues to heavily impact schedule reliability, particularly for transhipment cargo. The seven day average vessel waiting time has increased to 1.89 days, up from 1.55 days in recent weeks.

Ocean

• Spot rates on the Transatlantic Westbound trade are softening, partially reversing the rate spike seen in October. Despite carriers announcing General Rate Increases (GRI) and Freight All Kinds (FAK) hikes for early November, market indices indicate a downward pricing trend.
• Peak Season Surcharges (PSS), EU ETS fees, and Panama Canal emergency surcharges remain actively in place across the market.
• Cancellation rates are currently tracking around 8%. However, blank sailings are expected to halve next week, injecting more effective capacity into the market. Shippers are advised to treat November schedules as placeholders while carriers tweak networks to manage space.
• Schedule reliability sits at 73.2%, with average delays for late ships increasing slightly to 4.58 days. ICL continues to lead performance metrics, followed closely by Maersk and MSC, while Hapag-Lloyd and OOCL track lower. Shippers should continue to add a 7 to 10 day planning buffer for US East Coast arrivals.
• Severe vessel bunching is expected at Rotterdam and Antwerp in early November. As Suez Canal transits return to roughly 50% of pre-crisis levels, these vessels are overlapping with ships routed via the Cape of Good Hope, prompting advice to plan for a 2 to 3 day extra gate-in buffer.

• Antwerp is currently a congestion hotspot due to vessel bunching, with wait times extending to between 2 and 4 days. Barge and feeder delays are tracking between 24 and 56 hours.

• Bremerhaven yard utilisation remains high at 90%, which is now considered a structural baseline rather than a strike-related backlog.
• Hamburg vessel waiting times are tracking between 1 and 3 days, with yard utilisation sitting between 79% and 83%.

• Rotterdam is experirencing severe congestion due to vessel bunching, pushing waiting times to between 2 and 8 days. Low Rhine water levels are severely impacting inland connections, causing extended barge and feeder delays of 66 to 77 hours.

Benelux

Belgium

Ocean

• Antwerp PSA 913: Yard utilisation is at 80% to 85%, with reefer utilisation at 50% to 55%.
• Antwerp PSA 869: Yard utilisation stands at 75% to 80%, with reefer utilisation at 75% to 80%.
• Antwerp AGW: Yard utilisation has normalised to between 70% and 75%, with reefer utilisation at 70% to 75%.

Netherlands

Ocean

• Rotterdam ECT: Yard utilisation is at an elevated level of 80% to 85%.
• Rotterdam RWG: Yard utilisation remains at a critical level of 80% to 85%.
• Rotterdam Delta II: Yard utilisation is at a low level of 35% to 40%, with reefers at 30% to 35%.
• Rotterdam APMT MVII: Yard utilisation is tracking at a higher level of 90% to 95% due to implemented storm protection measures.

USA

Ocean

• Los Angeles/Long Beach: 2 vessels waiting (up by 2), with an 11-day dwell on rail terminals.
• Oakland: 3 vessels waiting (up by 2), with an 8-day rail dwell.
• Seattle/Tacoma: No vessels currently waiting (no change), with a 5-day dwell on the rail.
• New York/New Jersey: 4 vessels waiting (up by 1), with a 3-day dwell on the rail.
• Savannah: 5 vessels waiting (up by 1), with a 3-day dwell on the rail.
• Vancouver: 2 vessels waiting (down by 3), with a 5-day rail dwell.

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.

November 2026

• 4 November (Wed): Russia
• 7 November (Sat): Belarus, Transdniestria (PMR)
• 9 November (Mon): Spain*, Transdniestria (PMR)
• 11 November (Wed): Austria*, Belgium, France, Poland, Serbia
• 13 November (Fri): Montenegro, Saint Helena
• 14 November (Sat): Montenegro
• 15 November (Sun): Austria*, Belgium*, Belgium*, North Cyprus
• 17 November (Tue): Czech Republic
• 18 November (Wed): Croatia, Germany*, Latvia
• 19 November (Thu): Monaco
• 21 November (Sat): Bosnia and Herzegovina (FBiH)*
• 22 November (Sun): Albania
• 23 November (Mon): Albania
• 25 November (Wed): Bosnia and Herzegovina (FBiH)*
• 28 November (Sat): Albania
• 29 November (Sun): Albania
• 30 November (Mon): Albania, Romania

December 2026

• 1 December (Tue): Albania, Portugal, Romania
• 3 December (Thu): Spain*
• 6 December (Sun): Finland, Spain, Åland (Ahvenanmaa)
• 7 December (Mon): Spain*
• 8 December (Tue): Albania, Andorra, Austria, Holy See (Vatican City), Italy, Liechtenstein, Macedonia, Malta, Monaco, Portugal, San Marino, Spain, Switzerland*
• 13 December (Sun): Malta
• 15 December (Tue): Guernsey and Alderney*
• 23 December (Wed): Estonia*
• 24 December (Thu): Andorra*, Austria*, Bulgaria, Czech Republic, Denmark*, Estonia, Faroe Islands, Finland*, Germany*, Greenland (Kalaallit Nunaat), Holy See (Vatican City), Hungary, Iceland*, Iceland*, Latvia, Liechtenstein, Lithuania, Luxembourg*, Norway*, Poland, Portugal*, San Marino*, Slovakia, Svalbard and Jan Mayen*, Sweden*, Åland (Ahvenanmaa)*
• 25 December (Fri): Albania, Andorra, Austria, Belarus, Belgium, Bosnia and Herzegovina (FBiH)*, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Faroe Islands, Finland, France, Germany, Gibraltar, Greece, Greenland (Kalaallit Nunaat), Guernsey and Alderney, Holy See (Vatican City), Hungary, Iceland, Ireland (Eire), Isle of Man, Italy, Jersey, Kosovo, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Moldova, Monaco, Netherlands, Norway, Poland, Portugal, Romania, Saint Helena, San Marino, Slovakia, Slovenia, Spain, Svalbard and Jan Mayen, Sweden, Switzerland, UK (United Kingdom), Ukraine, Åland (Ahvenanmaa)

January 2027

1 January (Fri)

• Albania, Andorra, Austria, Belarus, Belgium, Bosnia and Herzegovina (FBiH), Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Faroe Islands, Finland, France, Germany, Gibraltar, Greece, Greenland (Kalaallit Nunaat), Guernsey and Alderney, Holy See (Vatican City), Hungary, Iceland, Ireland (Eire), Isle of Man, Italy, Jersey, Kosovo, Latvia, Liechtenstein, Lithuania, Luxembourg, Macedonia, Malta, Moldova, Monaco, Montenegro, Netherlands, North Cyprus, Norway, Poland, Portugal, Romania, Russia, Saint Helena, San Marino, Serbia, Slovakia, Slovenia, Spain, Svalbard and Jan Mayen, Sweden, Switzerland, Transdniestria (PMR), Türkiye, UK (United Kingdom), Åland (Ahvenanmaa)

2 January (Sat)

• Albania, Belarus, Bosnia and Herzegovina (FBiH), Liechtenstein*, Montenegro, Romania, Russia, Serbia, Slovenia, Switzerland*, Transdniestria (PMR)

3 January (Sun)

• Russia, Transdniestria (PMR)

4 January (Mon)

• Albania, Kosovo, Russia, UK (United Kingdom)*

5 January (Tue)

• Russia

6 January (Wed)

• Andorra, Austria, Bosnia and Herzegovina (FBiH), Croatia, Cyprus, Finland, Germany, Greece, Holy See (Vatican City), Italy, Liechtenstein, Poland, Romania, Russia, San Marino, Slovakia, Spain, Sweden, Switzerland*, Åland (Ahvenanmaa)

7 January (Thu)

• Belarus, Bosnia and Herzegovina (FBiH)*, Kosovo, Macedonia, Moldova, Romania, Russia, Serbia, Transdniestria (PMR)

8 January (Fri)

• Moldova, Russia, Transdniestria (PMR)

9 January (Sat)

• Bosnia and Herzegovina (FBiH)*, Russia

10 January (Sun)

• Russia

14 January (Thu)

• Bosnia and Herzegovina (FBiH)*

24 January (Sun)

• Romania

27 January (Wed)

• Monaco

Traffic bans

03.11.26

• AT | Austria 00:00 – 05:00; 22:00 – 24:00
• CH | Switzerland 00:00 – 05:00; 22:00 – 24:00
• LI | Liechtenstein 00:00 – 05:00; 22:00 – 24:00

04.11.26

• AT | Austria 00:00 – 05:00; 22:00 – 24:00
• CH | Switzerland 00:00 – 05:00; 22:00 – 24:00
• LI | Liechtenstein 00:00 – 05:00; 22:00 – 24:00

05.11.26

• AT | Austria 00:00 – 05:00; 22:00 – 24:00
• CH | Switzerland 00:00 – 05:00; 22:00 – 24:00
• LI | Liechtenstein 00:00 – 05:00; 22:00 – 24:00

06.11.26

• AT | Austria 00:00 – 05:00; 22:00 – 24:00
• CH | Switzerland 00:00 – 05:00; 22:00 – 24:00
• LI | Liechtenstein 00:00 – 05:00; 22:00 – 24:00

07.11.26

• AT | Austria 00:00 – 05:00; 22:00 – 24:00
• AT | Austria 15:00 – 24:00
• FR | France 22:00 – 24:00
• LU | Luxembourg 21:30 – 24:00
• LU | Luxembourg 23:30 – 24:00
• CH | Switzerland 00:00 – 05:00; 22:00 – 24:00
• HU | Hungary 22:00 – 24:00
• LI | Liechtenstein 00:00 – 05:00; 22:00 – 24:00