Global freight markets are sitting in a mix of tight capacity, weather-driven delays and uneven scheduling. Asia’s major hubs are still managing congestion and vessel bunching, while Europe faces ongoing port delays and inland equipment shortages. Early-November rate hikes on China-Australia lanes have already eased as demand softens into late month.
Global Freight Market Trends
For Oceania importers: Volatility is still the theme. Prioritise space, reliability and lead-time buffers. Expect intermittent delays across Southeast Asia, North Asia and Australia’s east coast as weather, backlog clearance and operational constraints continue through November.
In this Update:
Australia
Asia
USA/Canada
Europe
Airfreight
General News
Australian shippers continue to experience intermittent disruption driven by a mix of weather-related delays, IT maintenance, and industrial activity across key ports. Heavy rainfall and high winds along the east coast have caused short-term berthing delays in Brisbane and Sydney, while scheduled IT upgrades at DP World terminals have temporarily impacted truck turnaround times.
In Adelaide and Fremantle, occasional work stoppages and restricted operating windows linked to enterprise agreement discussions have added minor congestion during peak hours. Meanwhile, continuing port rotation changes along Australia’s east coast reflect carriers’ efforts to bypass congestion and protect schedule integrity across regional loops.
Overall, disruption levels remain manageable, but importers should allow for a 1–2 day buffer on vessel arrivals and container availability through mid-November.
Sydney:
DP World Port Botany wrapped up its IT and civil infrastructure upgrades in late October with minimal disruption to operations. The next phase of enhancements is already underway, designed to boost terminal efficiency ahead of the 2026 peak season.
However, the Maritime Union of Australia has confirmed stop-work meetings across all terminals on 25 November, with further industrial action anticipated through the remainder of the year. Shippers should plan for intermittent delays and potential schedule adjustments as negotiations continue.
Adelaide:
Flinders Adelaide Container Terminal begins a $400 million upgrade, including new post-super Panamax cranes (Australia’s largest), berth extensions, and a TOS modernisation program to significantly lift efficiency.
Melbourne:
Major road and air-freight links progress - the Wurundjeri Way extension is now open as part of the West Gate Tunnel project, introducing new tolling for heavy vehicles, while Avalon Airport launches a 24/7 freight processing facility capable of handling 100,000 tonnes annually with upgraded Border Force-compliant screening.
Darwin:
A new 30-year master plan unveiled, targeting capacity growth to 300,000 TEU annually, expanded bulk handling, and integrated rail and road upgrades - positioning the Top End as a strategic trade hub for Northern Australia.
Australia’s key container gateways continue to progress infrastructure upgrades and capacity improvements heading into 2026. The overall outlook remains stable, with several long-term developments designed to enhance efficiency, connectivity, and trade growth across the nation’s ports.
North East Asia: Freight Market Overview
After a strong start to November, the China–Australia trade has entered a sharp correction phase. Carriers, buoyed by high early-month utilisation and strong booking forecasts, pushed for another round of General Rate Increases (GRIs) in the second half of November, but this proved largely unsustainable.
With vessels departing from mid-month set to arrive around Christmas, most shippers have already front-loaded orders, softening demand considerably. As a result, many of the rate hikes introduced after November 15 have been described as “artificial increases”, quickly eroded by a renewed price war among carriers.
Budget and mid-tier operators were the first to break ranks, cutting prices to secure space utilisation as bookings slowed. Meanwhile, premium carriers are holding firm at elevated pricing through November 30, citing significant backlogs and a desire to maintain service reliability over short-term market share.
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Ocean Freight Rates
Rates out of North East Asia have entered a sharp correction phase. The aggressive GRIs introduced after 15 November have proven unsustainable, with softer mid-month demand triggering rapid discounting across budget and mid-tier services.
Budget Services (CAT, CA2): Now sitting around USD 1,450 per 20GP and USD 2,900 per 40HQ, as carriers cut rates to protect utilisation.
Mid Tier Services (NEAX/A1X): Have eased to USD 1,550 per 20GP and USD 3,100 per 40HQ, holding only a slight premium as demand stabilises.
Premium Services (A3C, A3N): Holding at around USD 2,200 per 20GP and USD 4,400 per 40HQ, supported by backlog clearance and stronger reliability commitments through late November.
The widening gap between premium and budget tiers reflects a market now driven by volume protection rather than price discipline.
Capacity and Schedule Reliability
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Utilisation is softening across East and North China, particularly post-Nov 15, as cargo flow slows ahead of Christmas.
Market fragmentation is intensifying as carriers fight to retain bookings amid falling demand.
Premium lanes remain at capacity due to backlog; however, this is expected to ease by early December.
West Coast services stable but constrained by trans-shipment congestion in Singapore and tight vessel rotations.
In short: Capacity is loosening, reliability is splitting by service tier, and late-November conditions will stay volatile as carriers work to fill remaining space.
South East Asia: Freight Market Overview
Over the past two weeks, container flows across Southeast Asia have remained under pressure from moderate demand and persistent operational friction. Capacity injections and blank sailings continue to balance each other, but effective supply remains tighter than headline figures suggest. Key hubs such as the Port of Singapore and Port Klang are seeing yard densities and vessel-queuing that are contributing to service uncertainty.
Ocean Freight Rates
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Rates out of South East Asia remain stable moving into the second half of November.
The premium services increased by approximately 20%, while the more budget carriers saw little movement.
Budget to Mid-Tier rates out of Indonesia, Vietnam, and Thailand remained modest in comparison, varying between USD850 - 950 per TEU.
Singapore, Taiwan, and Malaysia varied between USD1150 - 1300 per TEU.
Capacity and Schedule Reliability
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Major trans-shipment and direct gateway ports in SEA continue to record berthing and yard delays, driven by vessel bunching, feeder constraints, and the residual impact of weather or accident-related disruptions.
Schedule reliability remains moderate - importers and exporters should plan for possible 1–2-day delays or booking margins when relying on SEA transshipment hubs feeding Australia.
Carriers are increasingly omitting Fremantle from their rotations to mitigate ongoing congestion and delays at Singapore.
ASIA: Bottom Line
Southeast Asia remains in a mode of managed tension - not high-growth, but constrained enough to keep carriers cautious. For shippers using SEA hubs, the watch words are visibility, buffering, and selective booking discipline rather than rate-chasing or expecting major space relief.
With ongoing congestion, we can expect bottlenecks ahead of the Chinese New Year rush.
ASIA: Action Plan
Build lead-time buffers into supply chain planning: With yard densities high and vessel queues at Singapore and Port Klang, shippers should allow an additional 1–2 days on average for departures and arrivals. Align production schedules and delivery windows accordingly to avoid last-minute rebooking or storage costs.
Prioritise premium space for critical cargo: Rates for premium services have increased by ~20% as carriers manage space tightly. For time-sensitive or high-value shipments, lock in premium allocations early; for lower-priority freight, maintain flexible routing and be open to mid-tier carriers offering steadier capacity.
Enhance visibility and communication across booking channels: Feeder delays and transshipment congestion can change transit times quickly. Use Explorate’s tracking and communication tools to monitor container status in real-time and proactively flag disruptions to customers or downstream partners.
USA/Canada: Market Overview
Ocean Freight Rates
After several months of rate escalation, the market is finally stabilising. GRI activity is muted with the November 1 increase softened and no further GRI confirmed for mid-month. PSS has been postponed to December 1.
Capacity restoration and cautious carrier behaviour suggest a more predictable pricing environment through the remainder of November.
Capacity and Schedule Reliability
The Trans-Pacific trade has entered November with a noticeable rebound in vessel availability. Capacity has increased by 10–15% across all China–U.S. gateways as carriers reposition equipment and reinstate blanked sailings from October. Average utilisation is tracking between 83–88%, with stronger liftings to the U.S. West Coast compared to softer East Coast demand. The earlier tariff rush has now stabilised, leaving a more balanced flow of cargo through mid-month.
Capacity up 10–15% MoM as carriers reinstate previously blanked sailings.
Utilisation stronger ex-China to U.S. West Coast than East Coast.
Delays in container availability from West Coast terminals, with 7-10 days expected during peak season.
Air Freight: The U.S. federal government shutdown triggered dramatic disruption in aviation, with the Federal Aviation Administration (FAA) requiring airlines to reduce flight capacity at about 40 major airports by up to 10%, and warning that reductions could reach 20% if the impasse continues. Source: CNN
USA/CANADA: Bottom Line
The Trans-Pacific trade has entered a phase of measured stability after months of volatility. Increased capacity and softened GRIs are bringing rate consistency, while utilisation remains solid (especially to the U.S. West Coast).
However, port dwell times of 7–10 days and the ongoing U.S. government shutdown’s impact on aviation and cargo scheduling could create pockets of disruption. For shippers, this is a moment to consolidate forecasting accuracy, secure allocations early, and focus on service reliability rather than chasing marginal rate gains. The market’s balance is delicate and proactive planning now will protect margins into the new year.
USA/CANADA: Action Plan
Lock in allocations ahead of the December surcharge window: With the Peak Season Surcharge (PSS) postponed to December 1, take advantage of current rate stability by securing November space now. Early bookings will ensure access to steady capacity before carriers tighten supply in the next rate cycle.
Build flexibility into arrival and delivery timelines: Port congestion and longer dwell times, particularly on the U.S. West Coast, mean shipments may face 7–10-day availability delays. Adjust delivery forecasts and communicate lead-time buffers across procurement and DC teams.
Revisit carrier mix and routing options: As GRIs soften and service reliability improves, reassess your carrier spread. Diversifying between mid-tier and premium services can balance cost efficiency with schedule dependability — particularly important amid U.S. operational disruptions from the ongoing federal shutdown.
Europe: Freight Market Overview
Europe’s container trade continues to operate under a delicate balance of soft demand, lingering congestion, and selective capacity discipline.
On the Far East Westbound (FEWB) lane, utilisation remains subdued at around 85%, as carriers counter weak European import volumes with blank sailings and service suspensions. Meanwhile, the Trans-Atlantic Westbound (TAWB) corridor shows relative stability but ongoing congestion across North and South Europe.
Yard utilisation across major gateways - Rotterdam, Antwerp, Hamburg, and Genoa is averaging 75–89%, with berth delays of two to seven days and mounting dwell times. Persistent congestion at key Northern European hubs has reduced round-voyage frequency by up to 30%, absorbing excess capacity but leaving operations strained.
Ocean Freight Rates
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Carriers are holding rates steady through deliberate capacity control.
Capacity and Schedule Reliability
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FEWB utilisation is hovering at ~85%, below seasonal norms; selective blank sailings offset excess supply.
North European congestion persists: Rotterdam 9 days, Antwerp/Hamburg 3–5 days, cutting round-voyage frequency by up to 30%.
TAWB networks are affected by inland equipment shortages across Austria, Hungary, and Southern Germany, slowing container repositioning.
Weather and labour constraints are expected to sustain moderate delays through December.
The European market is characterised by artificial tightness rather than strong demand. Congestion and equipment shortages have absorbed spare capacity, temporarily supporting rate stability. As winter sets in, demand softens further, and carriers are likely to maintain controlled capacity and disciplined pricing through year-end.
EUROPE: Bottom Line
For shippers, this means longer lead times, reduced flexibility, and limited space fluidity even as overall demand softens. Expect the region to stay in a “managed stability” phase through December, where carriers prioritise cost discipline and service integrity over volume growth. Importers and exporters should focus on precision planning and proactive coordination to maintain consistency through the winter slowdown.
EUROPE: Action Plan
Adjust lead times to absorb port and inland delays: Persistent congestion at North European hubs and equipment shortages across inland Europe are extending transit times by 5–10 days on average. Review delivery schedules and build longer buffers into forecasts, especially for high-value or time-sensitive goods moving through Rotterdam, Antwerp, or Hamburg.
Diversify gateways and transport modes: Where feasible, re-route via Southern European ports (e.g., Valencia, Genoa, Piraeus) or leverage intermodal rail and feeder services to bypass the worst-affected hubs. Splitting volumes across multiple gateways can mitigate the impact of localised congestion and vessel bunching.
Strengthen equipment management and repositioning strategies: Ongoing container and chassis shortages in Central and Eastern Europe are constraining export flows. Coordinate closely with carriers and forwarders to pre-book empty returns and secure equipment releases early - particularly in Austria, Slovakia, Hungary, and Southern Germany.
Air Freight: Market Overview
In week 44, global air-cargo tonnages slipped by about -3% versus the previous week, yet average spot rates continued a slight upward trajectory, indicating capacity pressure despite softening volume. While overall volumes remain broadly flat year-on-year for many origin markets, the mix of trade lanes is shifting - with notable volume rebounds on select Asia-Pacific to North America and Africa to Europe routes. Meanwhile, capacity across passenger-belly and dedicated freighter services remains elevated in many regions, limiting the upside for rates.
Airfreight space from China into Australia remains tight but improving across most gateways, with additional capacity gradually opening from 12–18 November.
Overall, South China remains the most constrained, particularly for multi-leg routings via Singapore and Kuala Lumpur. Several carriers have reinstated limited frequencies, but space on second legs remains under pressure. Rates are mixed - largely stable ex-PVG and CAN, with modest increases ex-PEK and HKG/SZX where demand for e-commerce and heavy cargo remains strong.
The air-cargo market entering November is not overheated but is braced for selective tightness. Shippers focused on high-value, time-sensitive cargo have the upper hand - but the general-demand environment remains moderate. For customers in Australia, this means: ensure you have contingency for top-priority shipments, but don’t overspend on air freight as a blanket solution. Use this window to cleanse your data, refine your prioritisation criteria, and build strong carrier relationships ahead of Q1 contract season when demand may pick up again.
Overall trend: Airfreight demand remains steady ex-China, with selective rate adjustments and improving capacity from mid-November.
Tightest lanes: South China → Sydney/Melbourne via Singapore and Kuala Lumpur.
Carrier behaviour: Most airlines prioritising high-yield, dense, or heavy cargo; some offering promotional rates for light or volumetric goods.
Outlook: Expect gradual easing of space constraints as mid-month frequencies increase, but pre-Christmas demand could again tighten capacity by late November.
AIR FREIGHT: Action Plan
Secure capacity early on key origin-destination pairs. For volume moving from Asia-Pacific to North America or Europe, now is the time to lock in aircraft space ahead of the year-end peak. Those lanes are showing upward rate pressure and fewer available flights.
Build in lead-time and buffer for alignment with ocean/freight flows. Use air freight strategically for time-critical shipments, but also coordinate with ocean bookings so you’re not scrambling late for space at elevated rates.
Review your air-freight budget assumptions and supplier network. Given the moderate rate increases and mixed demand signals, validate your forecasted air-freight spend vs. budget and ensure you have alternate carriers/forwarders in your roster for priority lanes.
Monitor contract vs spot flex. If you typically book annual air-freight contracts, now might be a window to negotiate short-term flex-rates or add capacity riders, as carriers show willingness on selective lanes but remain cautious in broad commitments.
Global Market Overview
Global container-freight markets continue to operate under muted demand, with the recent easing of U.S.–China trade tensions reducing one key source of volatility.
Source: Linerlytica
Global Freight Rates
The World Container Index rose 8% last week to USD 1,959 per 40-ft container, marking the first meaningful uptick after 17 consecutive weeks of decline. The rebound reflects short-term carrier discipline and strategic rate restoration rather than a genuine recovery in global trade volumes. Drewry notes that the overall supply-demand environment remains weak, and any sustained momentum will depend on continued blank sailings or early peak-season restocking.
Source: Drewry
Asia → North America Rates from Shanghai to Los Angeles increased around 9% to USD 2,647 per FEU, while Shanghai to New York rose 8% to USD 3,837 per FEU. The uplift is largely driven by recent General Rate Increases (GRIs) applied by major carriers to stabilise the Trans-Pacific market.
Asia → Europe Rates from Shanghai to Rotterdam climbed 9% to roughly USD 1,962 per FEU, and Shanghai to Genoa rose 8% to about USD 2,111 per FEU. Despite low import demand in Europe, carriers have introduced FAK (Freight All Kinds) rates between USD 3,000–3,600 for November–December shipments to support a pricing floor.
Other / Reverse Lanes: Rate trends remain largely flat across secondary corridors. Carriers are expected to maintain moderate capacity reductions to prevent renewed downward pressure.
Global Schedule Reliability
Although congestion at major nodes persists (thereby limiting available effective capacity), the absence of significant freight-rate upward momentum suggests that carriers are prioritising preserving utilisation and service integrity over aggressive yield improvement.
Service deployments remain relatively stable, but with extended dock and yard delays in Europe and some equipment/repositioning constraints elsewhere, shippers should anticipate incremental reliability risks ahead of the traditional winter downturn.
GLOBAL SHIPPING: The Bottom Line
The short-term rate rebound indicates that carriers are testing the market and attempting to hold pricing through controlled capacity and GRIs.
Asia-to-US and Asia-to-Europe lanes show the most resilience, suggesting that shippers should not rely on further spot-rate declines in the near term.
The current uptick is strategic rather than demand-driven; unless booking volumes improve, the market could see another correction before year-end.
For procurement and supply-chain teams, this is a signal to secure short-term stability rather than chase further reductions - especially ahead of Q1 2026 contract discussions.
General News
Key Dates
The ongoing U.S. federal government shutdown has escalated into a significant operational crisis for aviation. With the Federal Aviation Administration (FAA) citing mounting fatigue among air-traffic controllers, many of whom are working without pay or have reported for overtime after missed paychecks, the agency has mandated progressive flight-capacity cuts at 40 major airports. Initially ordering a 4% reduction in scheduled flights starting early November, the directive is set to scale up to 10% by November 14, and could reach as high as 20% if the shutdown persists. Airlines are already experiencing thousands of cancellations and hours of delays, and cargo operations are not immune - the ripple effect threatens air-freight capacity, routing flexibility, and premium-rate exposure as importers and exporters brace for restricted belly-hold and dedicated cargo space. Source: CNN
Asia’s transport-and-logistics sector is navigating a blend of structural shift and operational stress - while carriers and exporters brace for softer export demand, particularly from China, new routes and modalities (like Arctic and land-rail corridors) are emerging amid geopolitical realignments. Congestion, regulatory uncertainty and capacity mismatches remain central challenges, forcing shippers and ports to prioritise visibility and flexibility over volume expansion. Source: Reuters
The ultra-large container ship CMA CGM Benjamin Franklin has successfully transited the Red Sea and entered the eastern Arabian Sea, marking the first ULC return to the Suez‐route corridor by the CMA CGM alliance since disruptions began in late 2023. This voyage is seen as a strategic “test” of the route’s viability amid ongoing security risks from Houthi activity, rather than a full-scale return to the Red Sea. While the move signals carriers are quietly preparing for the corridor’s reopening, they remain cautious about sending more vessels until the operational and geopolitical environment stabilises. Source: Lloyds List
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