After what seemed like a week or two of respite, it seems that we are set for the continuation of capacity issues in the Asia to Europe ocean freight market.
When UK and European lockdowns started to ease a few weeks back, and many products began moving once more, we believed that the blank sailing programmes would reduce to bring much needed capacity back to the market.
This has not materialised how we had expected and many steamship lines have confirmed blank sailings throughout quarter three.
After the initial volume surge, which resulted in short shipments and rollbacks for many importers, we witnessed a week or two of normality. However, if the past week is anything to go by, we seem to be moving back towards capacity issues that will be around until the carrier alliances commit more vessels back to the market.
Naturally, rates have continued to remain high as demand outweighs supply, which has resulted in claims that steamship lines are profiteering. Carriers would undoubtedly point to the huge losses they have endured during the lockdown periods and their need for sustainability.
In the meantime, Westbound are continuing to evolve our unique space allocation strategy to ensure we meet the needs of all of our clients and we will keep you advised of developments.
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