Zencargo Market Update: 20 October 2026

Ocean

• FAK rates are currently seeing a slight mid-month increase compared to early October.
• Emergency Bunker Surcharges (EBS) increased on certain services in October, and announcements indicate further EBS increases from other carriers are anticipated in November.
• Space on Named Account Contracts (NACs) and Long Term agreements remains tightly controlled. MSC continues to strictly manage its cargo mix, while CMA, HMM, and Yang Ming are withholding full allocations. This restriction is primarily driven by blank sailings as carriers reduce overall available space to clear backlogs of rolled cargo from Asia.
• Severe schedule disruptions continue to impact the trade lane, with frequent vessel changes and delays stemming from Asian port congestion and void sailings.
• To manage supply, blank sailings are expected to reduce overall market capacity by approximately 10% throughout November.
• A new Gemini Asia–Med service (SE5/AE18) starts 21 Nov. It uses 9 ships of 10–14k teu via Suez and adds ~5% weekly Med capacity.
• MSC is returning its vessels to the Suez Canal routing. There are now seven main services utilising the Suez: CMA’s OCR, Gemini’s NE4/AE5, Premier’s FE1, alongside MSC’s Lion, Britannia, Swan, and Albatros loops. While other services remain officially routed via the Cape of Good Hope, carriers may opt for last-minute Suez transits to recover from schedule delays, with Suez-to-Cape diversions are down to 180 ships, the lowest since Jan 2024.

Air

Central China to Europe

• Shanghai: Export rates to the UK are currently elevated, though better options may be negotiated based on specific cargo details. Shippers should verify rates on a case-by-case basis as post-Golden Week conditions settle.
• Ningbo: Air freight rates continue to rise, requiring case-by-case rate checks.

North China to Europe

• Tianjin: The market has normalised post-holiday with stable rates. Space requires booking 4 to 5 days in advance. Select carriers offer lower rates to London Heathrow with longer transit times, while others provide earlier departures at higher rate levels.
• Dalian/Beijing: Rates across most major airlines remain stable but at higher levels following fully booked pre-holiday capacity. Dense cargo can access spot rates, while volume cargo requires booking 6 to 7 days in advance and accepting split flights.
• Qingdao: The market to the EU is currently busy with tight space to most airports and estimated departures tracking around 23 October. Air freight rates to main airports have increased significantly this week, though airlines are still releasing spot rates for dense and volume cargo. Space to Europe remains open compared to tight capacity for the USA.

South China to Europe

• Guangzhou: Peak season conditions are driving very tight space across all airlines, with elevated indicative rates. Spot rates must be checked case-by-case based on actual flight dates.
• Shenzhen: The market is trending upward with increasing air freight costs. Deferred services to main EU airports offer lower rate tiers, but all shipments must be checked case-by-case.
• Xiamen: Rates remain elevated but are expected to stay relatively stable this week. Better pricing may be secured based on specific cargo details.

Ocean

• FAK rates for the second half of October have been extended, maintaining the pricing levels seen in the first half of the month.
• Strong import demand is expected to support these elevated trade rates well into the New Year. Major carriers continue to maintain high base rates for both East and West Coast routings, as well as inland destinations.
• Peak Season Surcharges (PSS) on Named Account Contracts (NAC) will continue throughout October, alongside separate Panama Canal Surcharges.
• MSC Diamond Tier space remains available, though allocation pressure has eased slightly as some capacity has been added to the trade.
• Overall capacity remains heavily restricted, with carriers announcing full ships until the second half of October as Golden Week brings further disruptions. 
• Space remains very limited, and shippers are strongly recommended to book three to four weeks in advance.
• Capacity is expected to return to the trade faster moving forward. Vessels routing via the Suez Canal will bring extra capacity to the trade two to four months ahead of Chinese New Year, and blank sailings are expected to ease as trade conditions improve.
• Congestion and limited daily vessel movements continue at the Panama Canal. Inland operations are also facing pressure, with US rail terminal dwell times remaining high and currently increasing.
• Weekly capacity is +8.9% YoY to the West Coast (MSC +47%, ONE +62%) and +4.9% to the East Coast.

Air

Central China to USA

• Shanghai: Export rates to the US West Coast remain stable following recent increases, driven by sustained e-commerce growth ahead of the Thanksgiving and Christmas holidays. Space is tight, and elevated oil prices are keeping transportation costs historically high, with rate levels expected to remain elevated until mid-December. The situation for the US East Coast and Midwest is even more challenging, with greater capacity shortages driving rates higher than the West Coast. Oil prices remain the primary factor determining overall freight rates, leaving little room for lower pricing.

North China to USA

• Tianjin: The market is performing normally with stable rates, and freighter options are providing the earliest departure space. Specific carriers are offering better pricing to major West Coast hubs (Los Angeles, San Francisco, Seattle), but space requires booking 6 to 7 days in advance. Rates are expected to maintain at a higher level.
• Dalian/Beijing: Rates across most major airlines have increased significantly this week. Space is tight and requires one week of advance booking. Spot rates remain available for dense cargo, but volume cargo requires 6 to 7 days of advance booking and the acceptance of split flights.
• Qingdao: The US market remains busy with tight space to both the East and West coasts. Air freight rates have increased for both coasts this week, though airlines are still releasing spot rates for dense and volume cargo.

South China to USA

• Guangzhou: The market is experiencing peak season conditions with very tight space across all airlines, driving high indicative rates. Spot rates must be verified case-by-case according to actual flight dates.
• Shenzhen: The market is heating up, and all shipments must be checked case-by-case with carriers. Rates for deferred services to both the US West and East coasts remain elevated.
• Xiamen: Post-holiday cargo volumes have surged while transport capacity has reduced, leading to sharp, frequent rate increases and extremely tight space. Rates must be quoted on a strict case-by-case basis.

Ocean

• FAK rates for the second half of October have largely been extended across the Indian market, though a clear pricing gap remains between North Indian ports (Mundra and Nhava Sheva) and South Indian ports (Chennai and Tuticorin). Conversely, FAK rates out of Bangladesh (Chittagong) have trended slightly down across most major carriers.
• FAK space out of India is generally healthy, though shippers should anticipate a cargo peak leading into the Diwali holiday. 
• While space and container availability out of Chittagong remain stable, equipment shortage issues are resurfacing at certain Indian Inland Container Depots (ICDs).
• DP World signed the 15-year New Mooring Terminal concession at Chittagong on 8 Oct. This is the deal behind the dockworker protests already in your draft.
• Gemini’s AGX/FM1 resumed weekly sailings on 17 Oct, calling at Khor Fakkan instead of Jebel Ali.
• Service routings are shifting, with both the NWC-IPAK and Australia Express services now officially routing through the Suez Canal. Additionally, Karachi is being added back to the NWC-IPAK service loop, re-establishing a direct connection.

• Mundra: Yard density has increased to over 73%. Bad weather is currently impacting port productivity, causing operational delays of 6 to 12 hours.
• Nhava Sheva: Yard density currently sits above 72%, with bad weather similarly causing operational delays of up to 6 hours.
• Chittagong: Core port performance remains broadly stable, with average vessel waiting times at roughly 1.07 days and yard density tracking between 75% and 80%. However, the local port authority recently signed a concession agreement with DP World to operate a terminal, sparking severe pushback from port workers who have gone on a hunger strike in protest.
• Colombo: Severe congestion continues to heavily impact schedule reliability, particularly for transhipment cargo. The 7-day average vessel waiting time currently stands at approximately 1.55 days.

Ocean

Ocean

• October pricing remains elevated. 
• In addition to base rate increases to destinations such as New York and Houston, carriers are applying significant Peak Season Surcharges across all US destinations, alongside EU ETS fees and Panama Canal emergency surcharges specifically for the West Coast.
• Capacity remains restricted, with a 6% to 9% cancellation rate maintained on Transatlantic Westbound routes. As predicted, Golden Week vessel bunching has caused double arrivals at major European hubs (Rotterdam, Antwerp, and Hamburg) throughout mid-October. Shippers are heavily advised to treat late October schedules merely as placeholders.
• Schedule reliability on the Transatlantic trade currently stands at 73.2%, with the average delay for late ships tracking at just over four days. ICL and Maersk are currently leading performance metrics, performing notably better than Hapag-Lloyd, MSC, and CMA CGM. Given this volatility, shippers should continue adding a 7 to 10 day planning buffer for US East Coast arrivals.
• Port congestion reached a record high in October. In Europe, Rotterdam is seeing vessel waiting times of nearly two days and yard utilisation hitting 90% at certain terminals, while low Rhine water levels are contributing to barge and feeder delays of up to 56 hours. Antwerp yards are similarly busy, with vessel waits of over a day and barge delays averaging 36 hours.
• Strike action at German ports was averted in early October, though the agreement still requires final employer approval. Hamburg currently faces vessel delays of up to two days with yards operating at roughly 80% capacity, while Bremerhaven yards are 90% full.
• In the UK, Southampton is managing a seven-day terminal shutdown that began in early October, resulting in vessel waiting times approaching two days. London Gateway is reopening a berth in phases and preparing for a terminal system upgrade at the end of the month.
• US port operations show varying rail dwell times, tracking at four days in New York, six days in Houston, and two days in Savannah, where drayage capacity is also currently tight.

Benelux

Belgium

Ocean

• Antwerp PSA 913: Yard utilisation is at 80% to 85%, with reefer utilisation at 50% to 55%.
• Antwerp PSA 869: Yard utilisation stands at 75% to 80%, with reefer utilisation at 75% to 80%.
• Antwerp AGW: Yard utilisation has normalised to between 70% and 75%, with reefer utilisation at 70% to 75%.

Netherlands

Ocean

• Rotterdam ECT: Yard utilisation is at an elevated level of 80% to 85%.
• Rotterdam RWG: Yard utilisation remains at a critical level of 80% to 85%.
• Rotterdam Delta II: Yard utilisation is at a low level of 35% to 40%, with reefers at 30% to 35%.
• Rotterdam APMT MVII: Yard utilisation is at a higher level of 85% to 90%.

USA

Ocean

• Los Angeles/Long Beach: No vessels currently waiting (no change), though rail dwell remains elevated at 11 days.
• Oakland: 1 vessel waiting (no change), with an 8-day average rail dwell.
• Seattle/Tacoma: No vessels currently waiting (down by 1), with a 7-day dwell on the rail.
• Vancouver (Canada): 5 vessels waiting (up by 2), with a 5-day rail dwell.
• New York/New Jersey: 3 vessels waiting (up by 2), with a 4-day dwell on the rail.
• Savannah: 4 vessels waiting (up by 3), with a 4-day dwell on the rail.

Europe Public Holidays

We anticipate a shortage of availability and the occurrence of delays around the bank holiday periods. Plan ahead and allow extra time for your products to be delivered.

October 2026

• 23 October (Fri): Hungary, Macedonia
• 26 October (Mon): Austria, Ireland (Eire)
• 28 October (Wed): Cyprus, Czech Republic, Greece, Türkiye*
• 29 October (Thu): North Cyprus, Türkiye
• 31 October (Sat): Finland, Germany*, Slovenia, Sweden, Åland (Ahvenanmaa)

November 2026

• 1 November (Sun): Andorra, Austria, Belgium, Bosnia and Herzegovina (FBiH), Croatia, France, Germany, Holy See (Vatican City), Hungary, Italy, Liechtenstein, Lithuania, Luxembourg, Monaco, Poland, Portugal, San Marino, Slovakia, Slovenia, Spain, Switzerland*
• 2 November (Mon): Belgium*, Holy See (Vatican City), Lithuania, Monaco, San Marino, Spain

• 4 November (Wed): Russia
• 7 November (Sat): Belarus, Transdniestria (PMR)
• 9 November (Mon): Spain*, Transdniestria (PMR)
• 11 November (Wed): Austria*, Belgium, France, Poland, Serbia
• 13 November (Fri): Montenegro, Saint Helena
• 14 November (Sat): Montenegro
• 15 November (Sun): Austria*, Belgium*, Belgium*, North Cyprus
• 17 November (Tue): Czech Republic
• 18 November (Wed): Croatia, Germany*, Latvia
• 19 November (Thu): Monaco
• 21 November (Sat): Bosnia and Herzegovina (FBiH)*
• 22 November (Sun): Albania
• 23 November (Mon): Albania
• 25 November (Wed): Bosnia and Herzegovina (FBiH)*
• 28 November (Sat): Albania
• 29 November (Sun): Albania
• 30 November (Mon): Albania, Romania

December 2026

• 1 December (Tue): Albania, Portugal, Romania
• 3 December (Thu): Spain*
• 6 December (Sun): Finland, Spain, Åland (Ahvenanmaa)
• 7 December (Mon): Spain*
• 8 December (Tue): Albania, Andorra, Austria, Holy See (Vatican City), Italy, Liechtenstein, Macedonia, Malta, Monaco, Portugal, San Marino, Spain, Switzerland*
• 13 December (Sun): Malta
• 15 December (Tue): Guernsey and Alderney*
• 23 December (Wed): Estonia*
• 24 December (Thu): Andorra*, Austria*, Bulgaria, Czech Republic, Denmark*, Estonia, Faroe Islands, Finland*, Germany*, Greenland (Kalaallit Nunaat), Holy See (Vatican City), Hungary, Iceland*, Iceland*, Latvia, Liechtenstein, Lithuania, Luxembourg*, Norway*, Poland, Portugal*, San Marino*, Slovakia, Svalbard and Jan Mayen*, Sweden*, Åland (Ahvenanmaa)*
• 25 December (Fri): Albania, Andorra, Austria, Belarus, Belgium, Bosnia and Herzegovina (FBiH)*, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Faroe Islands, Finland, France, Germany, Gibraltar, Greece, Greenland (Kalaallit Nunaat), Guernsey and Alderney, Holy See (Vatican City), Hungary, Iceland, Ireland (Eire), Isle of Man, Italy, Jersey, Kosovo, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Moldova, Monaco, Netherlands, Norway, Poland, Portugal, Romania, Saint Helena, San Marino, Slovakia, Slovenia, Spain, Svalbard and Jan Mayen, Sweden, Switzerland, UK (United Kingdom), Ukraine, Åland (Ahvenanmaa)

Traffic bans

20.10.26

• AT | Austria 00:00 – 05:00; 22:00 – 24:00
• CH | Switzerland 00:00 – 05:00; 22:00 – 24:00
• LI | Liechtenstein 00:00 – 05:00; 22:00 – 24:00

21.10.26

• AT | Austria 00:00 – 05:00; 22:00 – 24:00
• CH | Switzerland 00:00 – 05:00; 22:00 – 24:00
• LI | Liechtenstein 00:00 – 05:00; 22:00 – 24:00

22.10.26

• AT | Austria 00:00 – 05:00; 22:00 – 24:00
• CH | Switzerland 00:00 – 05:00; 22:00 – 24:00
• HU | Hungary 22:00 – 24:00
• LI | Liechtenstein 00:00 – 05:00; 22:00 – 24:00

23.10.26

• AT | Austria 00:00 – 05:00; 22:00 – 24:00
• CH | Switzerland 00:00 – 05:00; 22:00 – 24:00
• HU | Hungary 00:00 – 22:00
• LI | Liechtenstein 00:00 – 05:00; 22:00 – 24:00

24.10.26

• AT | Austria 00:00 – 05:00; 22:00 – 24:00
• AT | Austria 15:00 – 24:00
• FR | France 22:00 – 24:00
• LU | Luxembourg 21:30 – 24:00
• LU | Luxembourg 23:30 – 24:00
• CH | Switzerland 00:00 – 05:00; 22:00 – 24:00
• HU | Hungary 22:00 – 24:00
• LI | Liechtenstein 00:00 – 05:00; 22:00 – 24:00