Zencargo Market Update: 20th October 2025

Ocean

• GRI from 2H October has largely held, with most carriers maintaining rate increases. Some have adjusted down slightly for the final week of October, though November GRIs are already being announced.
• Blank sailings remain significant, tightening supply and reducing available capacity. Additional blank sailings are expected in early November.
• Weather disruptions in China have caused further schedule delays, with some vessels skipping South China ports, leading to rollovers and extended dwell times.
• Congestion in Europe has worsened, particularly at Rotterdam and Antwerp, where strike action and port delays have extended berthing times by 3–4 days. UK ports are operational but seeing knock-on effects from origin delays.
• Space remains tight, with several carriers (including MSK, MSC, and CMA) now fully booked until the end of the month. Rolling continues to affect shipments, primarily linked to blank sailings and typhoon-related disruption

Air

Central China

• SHA: Space remains sufficient but rates are increasing, particularly for dense cargo. Volume cargo faces delays, with deferred allotments needing early booking.
• NGB: Market to Germany is heating up, with demand still rising and tight space conditions. Bookings should be confirmed well in advance.

North China

• TSN: Market steady, but early booking (4–7 days) is needed due to limited availability on faster routes.
• DLC/PEK: Major airlines (SQ, CX, LH, CA, KL, NH, JL) have raised rates again this week. Dense shipments can still access spot rates, but volume cargo faces flight splits and longer lead times.
• TAO: Market slightly busier with tight space to major EU hubs. Airlines still release occasional spot rates for dense or volume cargo.

South China

• CAN: Peak season continues; rates rising and all bookings handled case by case.
• SZX: Market steady but rates inching up; all shipments require direct confirmation with carriers.
• XMN: Costs continue to rise due to the international situation; final rates confirmed per flight.

Ocean

• General Rate Increases (GRIs) were implemented mid-October by all carriers across most lanes. The increase was largely driven by front-loading activity ahead of US tariff measures and backlogs following Golden Week. It remains unclear whether these higher levels will hold through the end of October.
• A Peak Season Surcharge (PSS) has also been announced for mid-November on long-term contracts with CMA.
• Demand has now overtaken available capacity, driven by front-loading to avoid potential tariff costs and residual Golden Week disruptions.
• USEC capacity is projected to rise by around 9% in Week 43, while the USWC is expected to dip by 4%. Fluctuations are forecast to continue across both coasts through November, with alternating weeks of growth and contraction as carriers rebalance networks.
• Despite the tighter market, port congestion remains stable, with no significant issues reported across key US gateways.
• Space is critical, and bookings should be made at least 2–3 weeks in advance to secure allocations.

Air

Central China

• SHA:
  • USWC: Market hot but stable; early booking advised to secure space.
  • USEC: Market remains very tight for large shipments, while smaller cargo sees more variation. Space must be blocked early.
• NGB: Market firm, with demand still climbing and all rates quoted case by case.

North China

• TSN: Stable market; freighter flights (KE, OZ, JL) offering earlier ETDs, but 4–5 days lead time still needed.
• DLC/PEK: Rates holding steady; UA flights have resumed normal service. Dense cargo can still obtain spot rates, but large shipments face higher costs and limited flexibility.
• TAO: Very busy market to both US coasts. Space tight, with spot availability for dense cargo only.

South China

• CAN: Peak season pressure remains; case-by-case pricing applies.
• SZX: Market hot and space constrained; rates high, especially to the US East Coast.
• MN: Tariff-related uncertainty and flight cancellations have made space very tight. Rates continue to increase, and some carriers fully booked.

Ocean

• Rates continue to soften, though the downward trend seen since early September appears to be stabilising. Most carriers have extended early-October levels into the second half of the month, with only minor adjustments.
  • India to North Europe: FAK rates holding steady, with few signs of further reduction.
  • Bangladesh to North Europe: Rates remain steady 
• Space remains open overall, though pockets of congestion persist — particularly around Colombo, where yard density and adverse weather are creating short-term delays.
• Chattogram Port congestion has eased considerably, with average yard occupancy now around 71% and no major equipment shortages reported.
• Port charges are increasing: the Chittagong Port Authority (CPA) implemented its first tariff hike in four decades on 14 October, raising fees by an average of 41%. The move has drawn pushback from carriers citing increased terminal handling costs.
• MSC briefly announced a Port Cost Recovery Surcharge effective 16 October, but withdrew it pending review. HPL, however, will apply the same surcharge to non-FMC cargo from 1 November.
• Diwali closures in India (20–23 October) may cause slower supplier responses and booking delays early this week.

USA

Ocean

• Los Angeles/Long Beach: 1 vessel waiting (+1 from last week).
• Oakland: 3 vessels waiting.
• Vancouver: 1 vessel waiting (down by 2).
• New York/New Jersey: 1 vessel waiting (down by 2).

Benelux

Antwerp

• PSA 913: Yard utilisation has increased to 80–85%, with reefer utilisation steady at 60–65%.
• PSA 869: Yard utilisation has reduced to a stable level of 65–70%, while reefers remain steady at 45–50%.
• AGW Terminal: Yard utilisation remains stable at 55–60%, with reefer utilisation at 50–65% and empty stacks at 55–80%.

Rotterdam

• ECT: Yard utilisation stable at 65–70%.
• RWG: Operating at a critical level of 80–85% utilisation.
• DELTA II: Low yard utilisation at 25–30%, with reefers between 30–35%.
• APMT MVII: Yard utilisation steady at 85–90%.

UK

• Logistics UK has urged the Treasury not to raise diesel duty, National Insurance, or business rates in the upcoming Budget, warning it would increase costs across the supply chain and fuel inflation. The trade body highlighted that the logistics sector already contributes over £5bn annually in fuel duty and employs 2.7 million people, stressing that further tax rises would threaten competitiveness and hinder investment in essential logistics infrastructure

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 23 (Thursday): Hungary, Macedonia
• October 24 (Friday): Hungary
• October 26 (Sunday): Austria
• October 27 (Monday): Ireland (Eire)
• October 28 (Tuesday): Cyprus, Czech Republic, Greece, Türkiye*
• October 29 (Wednesday): North Cyprus, Türkiye
• October 31 (Friday): Germany*, Slovenia
• Nov 1 (Saturday): Andorra, Austria, Belgium, Bosnia and Herzegovina (FBiH), Croatia, Finland, France, Germany, Holy See (Vatican City), Hungary, Italy, Liechtenstein, Lithuania, Luxembourg, Monaco, Poland, Portugal, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland*, Åland (Ahvenanmaa)
• Nov 2 (Sunday): Belgium*, Lithuania, Russia, San Marino
• Nov 3 (Monday): Russia
• Nov 4 (Tuesday): Russia
• Nov 7 (Friday): Belarus, Transdniestria (PMR)
• Nov 10 (Monday): Spain*
• Nov 11 (Tuesday): Austria*, Belgium, France, Poland, Serbia
• Nov 13 (Thursday): Montenegro
• Nov 14 (Friday): Montenegro, Saint Helena
• Nov 15 (Saturday): Austria*, Belgium*, North Cyprus
• Nov 17 (Monday): Czech Republic, Latvia
• Nov 18 (Tuesday): Croatia, Latvia
• Nov 19 (Wednesday): Germany*, Monaco
• Nov 21 (Friday): Bosnia and Herzegovina (FBiH)*
• Nov 22 (Saturday): Albania
• Nov 24 (Monday): Albania
• Nov 25 (Tuesday): Bosnia and Herzegovina (FBiH)*
• Nov 28 (Friday): Albania
• Nov 29 (Saturday): Albania
• Nov 30 (Sunday): Romania