Transpacific Trade Updates – 06/01/23

Market updates:

> Vessel waiting time in USWC ports now is down to 3-5 days while USEC ports vessel waiting time are now ranging from 10-15 days

> Equipment is at a healthy level while some carriers are running out of NOR (Non-Active Reefer in South China)

> Transpacific Eastbound (TPEB) rates to the U.S. East Coast (USEC) continue to see softening while rates to the U.S. West Coast (USWC) show signs of leveling off. The ocean carriers will plan more blank sailings for Q1 2023, most to take place one to two weeks prior to Lunar New Year. The goal is to curb both excess capacities and continue to improve schedule reliability by easing port/terminal congestion

Rates updates:

Overall: TPEB rates are held stable, and we expect the rate will be extended from Dec to Jan

Sum-up in the chart:

Blank Sailing Updates:

e.g. As of the latest update, 40%+PN service (Pacific North e.g. Vancouver/Prince Pupert/Seattle/Tacoma) will be blanked in calendar week 3.

Recommendations: Please ensure that your PN booking one week ahead in Week 2 is being protected to avoid rolling over to week 3, which stands a high chance of double week rolling.

Service/capacity updates:

2M – TP8/Orient – Adding Tokyo call: Qingdao, Shanghai, Ningbo, Busan, Long Beach, Oakland, Tokyo