Industry News Ocean Freight Market Market Overview: The recent market lull has become pre-Chinese New Year demand giving carriers the supply crunch to push rates higher over the coming weeks. Port congestion remains a massive concern for shippers as LA/LB Ports implement the “Container Excess Dwell Fee”. General Rate Increases (GRI): November 15 GRI saw a partial implementation. December 1 GRI is expected. Carriers have also implemented Emergency Peak Season Surcharges effective November 15th and have filed for December 1 increases. COVID-19 Updates: China - Power Shortage effect on production has begun to normalize as factories adjust to maximize production during allowed operation hours. As a result, the impact on the China to North America trade is expected to be minimal before Holiday ramp ups. Vietnam - Reopening continues to gain steam as capacity hovers in the 40-60% range and container equipment availability in North Vietnam is strained. India - Delhi continues to implement partial lockdown protocols. Blank sailings: Operational blank sailings will be one of the key contributing factors in the market over Q4 – Current notices from the carriers can be found on our website (Week 46) Holiday Notices: • Malaysia: Offices closed Dec 11. Normal hours to resume Dec 12. Offices closed Dec 25. Normal hours to resume Dec 26. • Cambodia: Offices closed Nov 18 through 21. Normal hours to resume Nov 22. • India: Offices closed Nov 14. Normal hours to resume Nov 15. Offices closed Nov 19. Normal hours to resume Nov 20. Offices closed Dec 25. Normal hours to resume Dec 26. • Philippines: Offices closed Nov 30. Normal hours to resume Dec 1. Offices closed Dec 8. Normal hours to resume Dec 9. Offices closed Dec 24 & 25. Normal hours to resume Dec 26. Offices closed Dec 30 & 31. Normal hours to resume Jan 1. • Hong Kong: Offices closed Dec 25 through 27. Normal hours to resume Dec 28. • Indonesia: Offices closed Dec 25. Normal hours to resume Dec 26. • Thailand: Offices closed Dec 6. Normal hours to resume Dec 7. Offices closed Dec 10. Normal hours to resume Dec 11. Offices closed Dec 31. Normal hours to resume Jan 01. Airfreight Market Market Overview: Air carriers continue to struggle with capacity as holiday cargo demands remain strong. With constraints on ocean shipping, many retailers have resorted to air freight to ensure products make it to shelves. Advanced booking is strongly encouraged. The U.S. Market Market Overview: USEC/WC port bottlenecks continue to worsen as 100+ vessels idle for berth space in LA/LB. Implementation of the announced “Container Excess Dwell Fee” has begun on Nov 1, with carriers releasing statements regarding how to determine applicability. (Please reach out to your local Janel station for further information on this fee) Severely congested terminals continue to be skipped to prevent further vessel delays. US airports have begun announcing significant increases in congestion as China-US volumes shift to air for the holidays. We are seeing equipment shortage, lead times, and rates across all U.S. ports/ramps push record highs, while truckers are charging 2-3 times the rate for pick-up requests not meeting minimum lead time requirements. Janel Group continues to closely monitor the market and port situation. Updates will be provided as they come available. To secure a booking or explore additional options for your supplier, please reach out to your Janel Group Representative. Gabriel Racicot Pricing & Commercial Support Manager Tagged: shipping, overseas shipping, freight rates Share Older Post Market Update October 28th Copyright © 1996 - 2021 Janel Group, Inc. All Rights Reserved. Resources Terms and Conditions