Keep reading to check out our latest LogiWorld logistics market update! Carriers have kept Transpacific space tight this month by increasing blank sailings — especially to the U.S. West Coast, with 29 sailings canceled to PSW and 14 to PNW between Week 40 and Week 44. Some shipments are being rolled into early November, giving carriers confidence to push another GRI of $1,000/FEU for early November.
Looking ahead, capacity is expected to improve slightly in November, with PSW blanks dropping to 15 and PNW to 6 sailings. Space remains tight in major ports like Yantian, Shanghai, and Ningbo, but the situation is better than October. Carriers are still trying to hold rates around $3,100- $3500/40’ container to the West Coast, though special deals are starting to appear. Spot rates are likely to slip to about $2,800’s in early November and may continue to soften afterward.
On the East Coast, blank sailings peak next week with five planned, then normalize to one or two weekly. Space there is less affected, and some carriers have begun offering special rates roughly $800 below current market levels.
Overall, more capacity and easing trade tensions between the U.S. and China point to a softer market in November. The recent meeting between China’s Vice Premier and the U.S. Treasury Secretary in Malaysia produced a framework for a new trade deal, with Presidents Xi and Trump expected to finalize details during the APEC summit in Korea. Agreements with Vietnam, Malaysia, Thailand, and Cambodia also bring more clarity to the region’s trade outlook.
India–U.S. Ocean Market
- Blank Sailings: Carriers have canceled several sailings in recent weeks due to low demand.
- Rates: Freight rates remain under pressure; planned increases are being delayed.
- Reliability: Some services are skipping ports like Nhava Sheva, affecting schedules.
- Transit Times: Slight delays due to port congestion and weather.
- Carrier Actions: Alliances continue to adjust schedules to match demand heading into 2025.
India–Canada Ocean Market
- Surcharge: MSC announced a Peak Season Surcharge for India–Canada West Coast effective January 2025.
- Service Updates: Some direct routes may be restructured, possibly extending transit times.
- Rates: Generally stable, with mild downward pressure from soft demand.
- Congestion: Mundra Port facing delays due to weather and operations.
- Capacity Management: Carriers are actively balancing blank sailings and service reliability.
China Air Market
Air freight demand remains high as factories rush to meet Black Friday deadlines. Carriers have canceled select flights or sold space to charters, keeping rates elevated. Tech and project cargo volumes (like aluminum coils) are increasing, while Apple’s product launches are adding to the surge.
Some e-commerce players are shifting shipments to Hong Kong charters, pushing up HKG–U.S./EU rates. Ocean-to-air conversions are estimated at 15–20% as shippers race to deliver in time for the holidays.
SE Asia Air Market
E-commerce demand from platforms like Shein, TikTok, and Temu are fueling strong volumes ahead of Thanksgiving. Airlines are increasing rates starting November 1st. Vietnam and Thailand are seeing particularly strong demand in Q4.
As market conditions shift across ocean and air freight, proactive planning is key to staying ahead of rate changes and capacity swings. Our team monitors global carrier movements daily and can help you secure space and competitive pricing before the next round of adjustments. Contact LogiWorld today to discuss your shipping strategy for November and beyond.
