China National Holidays:
Just a reminder that China will shut down from 1st October until 7th October 2024 for Mid Autumn Festival and National Day public holidays, please ensure you ask all shippers to provide shipment documentation as soon as possible to avoid any delays and extra costs.
Ocean Freight Rates:
We are starting to see signs of some rate relief from China, Taiwan and Korea ports to Sydney, Melbourne and Brisbane, with some rate reductions being implemented from 15th September, 2024., hopefully this trend will continue into October/November.
The rates to West Coast ports are actually increasing due to limited services and large volumes of traffic moving as a result of recent backlogs in Singapore and Port Klang transhipment hubs.
Latest rates to all Australian ports are being updated to our website as they are received.
It has also been reported that the peak season is easing between Asia and Europe due to traffic volume reductions, thought to be as a result of shipments being moved earlier than normal following the closure of the Suez Canal.
Panama Canal:
The operations of the Panama Canal have eventually returned to normal following more water being available to fill the locks, good recent rains and fresh water also being added manually have resulted in up to 35 mega vessels being moved through the canal daily. The previously used rail connection used by shipping lines to bypass the Canal is still available should the need arise again.
Possible US Longshoreman’s Strike:
Ports on the East Coast of USA are bracing for a possible strike from early October 2024 as unions and ports have so far failed to reach agreement on automation and pay contracts.
We are monitoring the situation and will advise as further news comes to hand.