Asia Market Showing Some Signs Of Improvement

Following months of service disruption, limited space availability, and spiralling rates, the Asia ocean freight market has witnessed some small signs of improvement during the last month.

The availability of space on vessels has eased a little on several routes in the past two to three weeks. As a result, freight rates seem to have peaked and in some cases have even reduced.

Since the pandemic, the Asia market has been extremely volatile, swinging from one extreme to another. Therefore we are not counting our chickens just yet, it seems the slightest surge in volume or geopolitical tension can impact the market.

There is still port congestion at several ports in Asia and container equipment is still an issue at certain origins, container manufacturers are reportedly sold out until October after the rush to buy this year,

Traditionally, the peak season fizzles out after China's Golden Week in the first week of October. Therefore, we will probably be better placed to make a judgement on whether the recent trend is a sign of things to come then. In the meantime, we are monitoring developments very closely.

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