Weekly Ocean Operations Update: Asia to Europe, US and Australia 06/12/24

General overview: The weekly normal capacity for the FEWB trade lane to North Europe is approximately 330,000 TEUs. For the first half of December, capacity has been reduced by approximately 15-18%, while the second half is showing an 11% reduction. 

To the Mediterranean, the weekly normal capacity is around 189,000 TEUs, with blank sailings accounting for 8-10%. December volumes have shown an improvement compared to November, though the expected surge ahead of the Chinese New Year has yet to materialise.

On the TPEB trade lane, space availability varies by region. For PSW, space remains open as demand has decreased following Thanksgiving and Black Friday promotions, partly due to the US tariff situation affecting e-commerce goods. Shippers are closely monitoring the market to finalise production ahead of the Christmas season and Chinese New Year peak.

For PNW, spaces are also open, with carriers diverting more cargo to Tacoma, Seattle, or Canadian base ports to replace Canada IPI cargoes. Terminal berthing delays are leading to anticipated blank sailings in the coming weeks. For AW, spaces are tight, and most vessels are overbooked.

In India, shippers are preparing for potential supply chain disruptions as dockworkers at government-controlled ports plan an indefinite strike starting December 17. Find out more here.

Overview by trade lane

FEWB summary:

Rate and capacity update as of December 6, 2024:

Oceania summary:

Rate and capacity update as of December 6, 2024:

Transpacific summary:

Rate and capacity update as of December 6, 2024:

Asia port updates

Market intel: Europe

• Hapag Lloyd has announced plans to open bookings for all Gemini Cooperation Services on December 3, 2024 (Source: Hapag Lloyd)

Market intel: USA

US Import Tariff Update

The incoming US President has announced plans to increase import tariffs starting on the first day of his presidency, January 20, 2025. These tariffs will affect imports from Canada, Mexico, and China.

In response, many Chinese factories are closely monitoring the situation and holding cargo. Vessels arriving on the West Coast before the potential tariff impact are expected in the last week of December 2024 (with transit times of 15-20 days). For the East Coast, arrivals are anticipated by mid-December 2024 (with transit times of 30-40 days).

(Source: Reuters)

Equipment update

Correct at time of publication on November 6, 2024 – please find attached at the bottom of the article.