Zencargo Market Update: 3rd November 2025

Ocean

• The November rate increase has largely softened, with most carriers maintaining only a modest uplift compared to late October.
• Space performance is mixed: some carriers remain heavily booked several weeks in advance, while others are actively seeking additional cargo.
• Blank sailings continue through November, with some alliances cutting capacity by up to half, while others make smaller adjustments to balance utilisation.
• European congestion remains problematic, particularly at Rotterdam and Antwerp, where strikes and vessel delays are prompting diversions and port omissions.
• Schedule reliability has seen improvement overall, now averaging just over 70%, though performance varies widely across alliances — some maintaining strong punctuality while others lag behind industry averages.
• UK port operations remain relatively stable, but congestion on the continent may affect onward delivery timing for some services.

Air

Central China (SHA/NGB)

• SHA: Market remains very hot, with space extremely tight and rates continuing to rise. Early booking essential to secure allotments, especially for volume cargo, which is being deferred in favour of denser shipments.

• NGB: Market to Europe is increasingly active, with space becoming tighter week by week. Rates continue to trend upward, and bookings are being handled case by case.

North China (DLC/TSN/TAO/PEK)

• TSN: Market remains busy, with SQ and JL offering lower-cost options to London at the expense of longer transit times. 4–7 days’ lead time needed for confirmed space.

• DLC/PEK: Carriers including SQ, CX, LH, and JL have raised rates again this week. Dense cargo can still access spot rates, but volume cargo may face split flights.

• TAO: Tight space continues to major European hubs; airlines are maintaining higher levels than recent averages.

South China (CAN/SZX/XMN)

• CAN: Peak season pressure continues with bookings assessed case by case.

• SZX: Market remains very active, with further increases expected; all bookings handled directly with carriers.

• XMN: Costs rose again last week; available space remains tight, and rates are being quoted individually per flight.

Ocean

• A new rate increase came into effect on 1 November, largely driven by a surge in demand linked to U.S–China trade tensions and front-loading ahead of potential tariffs.
• Market rates have firmed, with both prepaid and FAK levels rising modestly compared to October.
• Space remains tight, though carriers are expected to add capacity through November, with utilisation forecast to improve significantly from last month’s lower levels.
• Demand remains elevated, particularly on the West Coast, where utilisation is climbing, though a slight easing is expected later in the month.
• East Coast services are also experiencing steady demand growth, with moderate rate adjustments and minor week-on-week capacity shifts.
• Overall, the trade remains buoyant, but space constraints persist on some services, so early bookings are strongly recommended.

Air

• SHA:
  • USWC: Market remains steady but tight, with rates stable and available space requiring advance confirmation.

  • USEC: Space is still accessible, but volume shipments need early booking. Overall, rates remain stable week on week.

• NGB: Market stable; bookings continue case by case with airlines maintaining steady conditions.

North China (DLC/TSN/TAO/PEK)

• TSN: Market slightly hotter this week, particularly on freighter flights (KE/OZ/JL). Early ETD options available but require 4–5 days’ booking lead time.

• DLC/PEK: Rates have risen across most airlines, with UA flights now back to normal. Dense cargo can still access spot availability.

• TAO: Busy conditions continue; space remains tight to both coasts, with denser shipments prioritised.

South China (CAN/SZX/XMN)

• CAN: Peak season remains in effect, with bookings confirmed case by case.

• SZX: Market hot and space limited, with strong demand to both East and West Coast destinations.

• XMN: Following the tariff announcement, the market has stabilised, though costs remain elevated and capacity constrained.

Ocean

• Rates from India to Europe continue to edge lower into November, with most carriers implementing small reductions as market softness persists.
• Bangladesh rates are showing mixed performance — while a few carriers have introduced slight increases, overall levels remain largely steady compared with October.
• Operational challenges continue around Colombo, where congestion, transhipment backlogs, and poor weather are contributing to shipment delays.
• Cyclone Montha has intensified over the Bay of Bengal, disrupting port operations at Chennai, Ennore, Krishnapatnam, and Visakhapatnam, and causing potential scheduling delays.
• Northern Europe congestion, particularly in Rotterdam, continues to impact reliability, with several vessels omitting the port entirely.
• Schedule reliability has fallen compared with the previous period, though Maersk and Hapag-Lloyd remain the most reliable on this trade lane.

Ocean

• Congestion persists across major Northern European ports, with Rotterdam, Antwerp, Hamburg, and Bremerhaven all reporting high yard utilisation and berth delays of several days.
• Carriers are tightening capacity through additional blank sailings, withdrawing around 7,000 TEUs in the coming weeks, a move that is keeping space constrained despite moderate demand.
• A rate increase has been announced for the second half of November, reflecting capacity cuts and ongoing congestion at origin ports.
• Schedule reliability remains strong overall, led by Gemini and MSC, while the Ocean Alliance continues to underperform the trade average.
• A notable sustainability milestone was reached as the Neoliner Origin, the world’s largest wind-powered cargo vessel, completed its maiden transatlantic voyage, marking an important proof of concept for greener shipping solutions.

USA

Ocean

• Los Angeles/Long Beach: No vessels waiting; 5-day average rail dwell.
• Oakland: 3 vessels waiting; 4-day rail dwell, unchanged from last week.
• Seattle/Tacoma: No vessels waiting; 5-day rail dwell.
• Vancouver: 3 vessels waiting (up by 2); 5-day rail dwell.
• New York/New Jersey: 2 vessels waiting (up by 1); 3-day rail dwell.
• Savannah: 4 vessels waiting (up by 2); 2-day rail dwell.

Benelux

Antwerp

• PSA 913: Yard utilisation has increased to 80–85%, with reefer utilisation steady at 60–65%.
• PSA 869: Yard utilisation has eased to 65–70%, with reefers stable at 45–50%.
• AGW: Yard utilisation remains steady at 55–60%, with reefers reducing to 50–65% and empties stable at 55–80%. Cargo opening times remain five days prior to vessel ETA.

Rotterdam

• ECT: Yard utilisation stable at 65–70%.
• RWG: Operating at a critical level of 80–85%.
• Delta II: Yard utilisation remains low at 25–30%, with reefers at 30–35%.
• APMT MVII: Operating steadily at 85–90% utilisation.

UK

• New truck registrations have fallen by just over 10% so far this year, reflecting weak freight demand and high operating costs across the road transport sector. Diesel vehicles still dominate the market, though registrations dropped over 11%, while electric truck adoption remains limited compared with the EU average.

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.

• 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

Traffic bans

8.11.2025

9.11.2025

10.11.2025

11.11.2025