Zencargo Market Update: 28th April 2025

Ocean

• The planned May GRI has failed to hold. Rates are now declining across the board, led by aggressive reductions from major carriers. Demand has picked up slightly but remains insufficient to absorb the available capacity.
• Despite some blank sailings announced for May, overall supply remains elevated compared to last year. Additional vessels from the transpacific trades are expected to join Asia-Europe services, which may exacerbate overcapacity issues.
• Equipment availability is generally stable.
• Congestion at London Gateway has worsened, leading major alliances to divert services to Southampton and Felixstowe.

Air

Central China to Europe:

• Shanghai (SHA): Space remains tight ahead of the Labour Day holiday. High-cost space is being accepted, with airlines applying spot rates where necessary. E-commerce shipments are stable with consistently high booking volumes.
• Ningbo (NGB): Space is available but slightly less tight. Rates continue to adjust based on actual shipment details; spot opportunities are available.
• Germany (DE): Similar dynamics to the broader Europe lane, with high space demand and flexible spot pricing around the holiday period.

North China to Europe:

• Tianjin (TSN): The market remains stable, with longer transit times on some services. Early booking (4–5 days ahead) is recommended, particularly for KE, OZ, and JL freighter flights.
• Dalian/Beijing (DLC/PEK): Rates have decreased slightly. Dense cargo is eligible for spot pricing, while volume shipments require early planning and acceptance of possible flight splits.
• Qingdao (TAO): Space is open and stable to Europe, with slight downward adjustments to rates compared to last week.

South China to Europe:

• Guangzhou (CAN): Market remains steady. Discounted rates may appear around Labour Day, but availability should be checked case by case.
• Shenzhen (SZX): Market conditions are normal. Deferred services are stable but must be quoted based on shipment details.
• Xiamen (XMN): Space remains stable; rates quoted case by case based on actual booking and flight availability.

Ocean

• Increases have been implemented for early May. Carriers have pushed up FAK levels, and new long-term contracts coming into effect from May are reflecting higher rates than existing deals. Demand remains steady, but the market is showing sensitivity to tariff announcements, particularly impacting volumes ex-China.
• Significant blank sailings are underway, with carriers withdrawing capacity faster than during the pandemic period. Multiple service loops have been suspended. Capacity constraints are most visible in early May.
• With tariffs reshaping trade patterns, carriers are aggressively managing supply, blanking over 25% of weekly sailings through late April and early May.

Air

Central China to Europe:

• Shanghai (SHA): Space remains tight ahead of the Labour Day holiday. High-cost space is being accepted, with airlines applying spot rates where necessary. E-commerce shipments are stable with consistently high booking volumes.
• Ningbo (NGB): Space is available but slightly less tight. Rates continue to adjust based on actual shipment details; spot opportunities are available.
• Germany (DE): Similar dynamics to the broader Europe lane, with high space demand and flexible spot pricing around the holiday period.

North China to Europe:

• Tianjin (TSN): The market remains stable, with longer transit times on some services. Early booking (4–5 days ahead) is recommended, particularly for KE, OZ, and JL freighter flights.
• Dalian/Beijing (DLC/PEK): Rates have decreased slightly. Dense cargo is eligible for spot pricing, while volume shipments require 6-7 days in advance of booking with possible flight splits.
• Qingdao (TAO): Space is open and stable to Europe, with slight downward adjustments to rates compared to last week.

South China to Europe:

• Guangzhou (CAN): Market remains steady. Discounted rates may appear around Labour Day, but availability should be checked case by case.
• Shenzhen (SZX): Market conditions are normal. Deferred services are stable but must be quoted based on shipment details.
• Xiamen (XMN): Space remains stable; rates quoted case by case based on actual booking and flight availability.

Ocean

• Rates are seeing slight declines from both India and Bangladesh, attributed to persistent overcapacity. However, signals of a GRI for the second half of May are emerging.
• North Indian ICDs continue to experience shortages of 20ft containers. HMM and ONE are offering special spot rates linked to port changes from London Gateway to Southampton on selected services. MSC has suspended its Rotterdam call from Chittagong due to severe congestion, now rerouting cargo via London Gateway.

Ocean

• Spot rates are climbing, and multiple carriers have announced Peak Season Surcharges (PSS) for May. Delays at major European hubs continue to constrain capacity.
• Congestion is acute across key ports such as Hamburg, Antwerp, Rotterdam, and Le Havre. Terminal operators are reducing container delivery windows to manage backlogs.
• Several carriers are applying or planning PSS for May on both North Europe and Mediterranean lanes to the US, reflecting expected demand surges due to postponed tariffs.

USA

• Los Angeles/Long Beach: 6 vessels waiting to berth, with a 6-day rail dwell.
• Oakland: 5 vessels waiting, with a 6-day rail dwell.
• Seattle and Tacoma: No vessels waiting. 4-day rail dwell.
• New York/New Jersey: 3 vessels waiting, with a 6-day rail dwell.
• Norfolk: 3 vessels waiting, with a 3-day rail dwell.
• Savannah: 3 vessels waiting, with a 2-day rail dwell

Benelux

Antwerp

• PSA 913: Yard utilisation remains on a very high level of 90–95%, with reefer utilisation at 70–75%. Terminal faced challenges and vessel backlog due to strike actions and phase-out volume. PSA adjusted gate opening times to 5 days prior to vessel ETA.
• PSA 869: Yard utilisation stable at 80–85%, with reefer utilisation increased again to 75–80%. Gang availability remains good, and the terminal continues to operate efficiently.
• AGW: Yard utilisation stable at 65–70%, with reefer utilisation stable at 60–65%. Cargo opening times remain 5 days prior to vessel ETA. No operational challenges reported.

Easter: All terminals will remain with regular water side operations.

Rotterdam

• ECT: Yard stabilised as phase in/out will be completed next week. Yard at 70–75%. Second modalities remain under pressure. Berth line-up continues at very high utilisation. Terminal managing heavy demand with all available resources. Three new gantry cranes received this week. No operational challenges reported.
• RWG: Yard utilisation remains high at 75–80%, with yard protection measures in place. Productivity remains very high, and feeder demand continues at elevated levels.
• DELTA II: Yard on a normal level of 65–70%. Labour sufficient. No operational challenges reported.
• APMT MVII: Yard on a good level of 70–75%. Terminal with high productivity and throughput. No operational challenges reported.

Easter: All terminals will remain with regular water side operations.

United Kingdom

• CLdN is investing in its Killingholme terminal on the Humber estuary to boost cargo handling capabilities. The project, due to complete in late 2026, includes reconfiguring cargo operations and installing five new electric gantry cranes. This aims to cater for growing North Sea volumes and further decarbonise port activities​.
• Peel Ports is investing £10m in Heysham Port to enhance trailer park capacity, introduce a new multi-lane smart gate system, and deploy a new terminal operating system. These upgrades will accommodate growth from Stena Line’s new hybrid ferries and improve haulier experience by reducing congestion and improving trailer identification​.
• Driver Hire, a training company, has warned that the industry faces a renewed HGV driver shortage as the majority of drivers approach retirement age. With 55% of professional drivers aged 50–65 and low numbers of younger recruits entering the profession, the sector risks a repeat of pandemic-era shortages unless stronger recruitment efforts are made​.

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.

• 27 Apr (Sun): Netherlands, Slovenia
• 1 May (Thu): Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Finland, France, Germany, Greece, Hungary, Italy, Latvia, Lithuania, Luxembourg, Malta, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden
• 2 May (Fri): Hungary, Latvia, Romania, Slovenia, Spain
• 3 May (Sat): Poland
• 4 May (Sun): Austria, Latvia, Lithuania
• 5 May (Mon): Ireland (Eire), Latvia, Netherlands
• 6 May (Tue): Bulgaria
• 8 May (Thu): Belgium, Czech Republic, France, Germany, Slovakia
• 9 May (Fri): Luxembourg
• 15 May (Thu): Spain
• 17 May (Sat): Spain
• 24 May (Sat): Bulgaria
• 26 May (Mon): Bulgaria
• 29 May (Thu): Austria, Belgium, Denmark, Finland, France, Germany, Luxembourg, Netherlands, Sweden
• 30 May (Fri): Belgium, Croatia, Denmark, Spain
• 31 May (Sat): Spain