Week 40 - Oceania Trade Lane Update

SCFI Update

7% increase from week 39 to week 40 considering cargo rush before China Golden Week Holiday.

Space & Rate Status

Forecast rate is expected to increase and space will remain very tight for coming weeks, carriers are reporting that Oct sailings are full and that peak will continue through November as customers are rushing for Christmas orders. There is a new Australia service from Gold Star Line, so  far this has had a limited impact on the market 

COSCO and OOCL have stopped accepting booking on AAA1/ AAA2/ ASAL in week 40-43 since end of Sep due to the serious backlog and congestion at Singapore, new bookings will not be accepted until congestion is relieved (delays are up to two weeks at Singapore)

This congestion is impacting South East Asia bookings and cargo connecting to Adelaide and Fremantle during peak. Unless having allocation, carriers are are releasing space prioritized by rate $$$.

Per ANL advised, they are even rejecting Sea Priority Go shipment. There is no online platform open for NEA/ SEA booking to AUS in Oct for time being.

1^st half Oct FAK rate

- AUEC: USD 1500-1600up/ TEU

- AUWC: USD 1000up/ TEU  

2^nd half there should be GRI ranging from USD 125-325/TEU