Freight Market Update: October 20, 2020
Carrier equipment shortages reach all-time difficult levels with vessels booked beyond capacity on Transpacific and Asia-Europe lanes into Q4 2020.
Carrier equipment shortages reach all-time difficult levels with vessels booked beyond capacity on Transpacific and Asia-Europe lanes into Q4 2020.
Transpacific Eastbound space stays critical with carriers booking above capacity, while Far East Westbound rates rise heading into a slower post-Golden Week period.
Transpacific rates hold steady as carriers waive GRIs and pull 8.4% of capacity in early October's slack season, amid equipment shortages for October 6, 2020.
Transpacific rates rise on September GRIs and carriers stop accepting bookings as shippers rush cargo out of China at peak of peak season, September 16, 2020.
Transpacific rates climb on equipment shortages and pre-Golden Week demand as the market stays strong in the freight market update for September 23, 2020.
Severe equipment shortages keep Transpacific capacity critical as shippers rush cargo out of Asia ahead of Golden Week, with mid-month GRIs likely on key lanes.

US factory activity hits its highest level since 2018 as China, South Korea, and other Asian economies reopen and rebuild output amid COVID-19.

A glut of idle oil tankers causes severe congestion off northern Chinese ports, while a synced platoon of self-driving trucks makes its debut commercial delivery.