Ocean freight import services from Asia are once more suffering from a severe lack of space and equipment, which has led to freight rates spiralling.
In the approach to the traditional peak season, carriers are reporting a shortage of booking availability for multiple routes from the Far East and Southeast Asia, which have been attributed to;
- Increased demand
- Extended journeys times
- Delays in current schedules
- Carrier’s blanked sailing programmes
As well as a lack of space on vessels, equipment shortages are also being reported at some origin points, and the combination of the two has led to rates rising rapidly. Despite a recent General Rate Increase being applied earlier this month, further increases are already being implemented by carriers.
The current situation is not dissimilar to the period that immediately followed the outbreak of the pandemic, where capacity issues became a major challenge.
Global Freight Services are working extremely hard to manage the situation for our clients, but do suggest that customer’s book as early they can to help avoid supply chain disruption.
