Group of shipping containers at the port, perspective view
© Rpianoshow

Here’s the latest update for the ocean freight market by DHL Global Forwarding:

In October cargo demand is expected to slow down during and after the Golden Week holiday in China (first week of October).

Both the members of THE Alliance and the 2M have formally announced a new series of blanked sailings between Asia and Europe. Also the latest schedules of the OCEAN Alliance show skipped sailings in Asia-North Europe loops.

This shows the carrier’s cautious approach to avoid overcapacity to match it with market demand. Most voided sailings are concentrated in the first half of October due to anticipated strong customer demand in the fourth quarter, despite COVID-19. Since May carriers started to increase capacity by reinstating blanked sailings, resuming suspended services, launching new services and organizing extra ad hoc sailings on the two big East West trades.

These capacity increases were pushed through the strong cargo demand in China and the additional peak ahead of the Golden Week Holiday.

In September 2020 the Transpacific capacity was 26% higher compared to May and even 6.7% more compared to 1 September 2019. Average weekly capacity between Asia and Europe has risen 17.6% compared to May and is only 4% under last year’s figure.

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