> 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)
> The recovery of Trans-Pacific container volumes from Asia to North America will depend on how quickly importers are able to draw down excess inventories over the coming months.
While there are encouraging signs regarding general merchandise retailers seeing their inventories-to-sales return toward pre-COVID levels after spiking on a seasonally adjusted basis in mid-2022.
> According to the Federation of Malaysian Manufacturers (FMM), Malaysia benefits from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) with better market access for its exports.
Overall: TPEB rates are held stable, and we expect the rate to be extended till mid-Feb 2023.
Sum-up in the chart:
Blank Sailing Updates:
PSW: Average 18-20% capacity cut in the first 6 weeks
PNW: Capacity has been majorly cut (Avg 28-30%) in the first 6 weeks
AWS: Average 10% capacity cut in the first 6 weeks, but full capacity return from week 7
(Note: Carriers are monitoring the market situation and may implement additional blank sailing if the rate continues to drop)
Recommendations: Highly suggest your PNW booking be arranged at least 1 week ahead, where capacity only getting normalized on week 4 and week 7 but expected there’ll be a big backlog to be clear due to major capacity cuts on PNW.