Freight Market Update: November 23, 2021
Flexport experts preview the year ahead in supply chains and Canadian trade, sharing scenarios for building resilience against 2022 disruption.
Flexport experts preview the year ahead in supply chains and Canadian trade, sharing scenarios for building resilience against 2022 disruption.
Transpacific demand stays strong through the end of 2021 as shippers rush pre-Chinese New Year cargo, with port congestion the focus of Flexport's live update.
A post-Golden Week lull leads into a pre-Chinese New Year rush as Transpacific demand ramps, keeping ocean rates elevated amid reduced capacity and congestion.
Week of November 2, 2021: record container ship backlogs off LA and Long Beach keep cutting transpacific capacity as ports weigh steep dwell fees.
Transpacific demand stays strong past 2021 peak as roughly 80 ships dwell at LA/Long Beach and carriers extend elevated rates into November.
Transpacific premium and extra loader markets soften on dipping demand as Flexport surveys exporters on China electricity rationing, for October 19, 2021.
Transpacific rate uncertainty grows as Golden Week and China power restrictions cut demand, while port congestion pushes carriers to smaller U.S. ports.
Transpacific congestion worsens with roughly 70 vessels waiting at LA/Long Beach and 150 at Shanghai and Ningbo as peak season demand persists.