Market information for MAY 2024

Dear partner

As we can see the lines keep raising the rate every week from April. There are two main reasons ：

1. The economic recovery after the Covid 19 made the export increase from Asia. With the export increase, the space will be tight.

2. The Red Sea incident. This incident made the lines go through the RED sea to Europe. They need to take away from Cape of Good Hope. This means the transit time will take longer. They have to add more vessels to this routing to keep the service. So they take action to adjust the vessels from another area to support this routing. You will see the blank sailings. The blank sailing makes the space more terribly tight.

Above two reasons, it make the rate raising. As forecast, the high rate level will be kept till June. July and Aug are the pink season. Totally say, the high rate level will keep till November at least.

As for opinion, if have cargo ready plan, it is better to make a reservation early. The main problem is to get the space first. For any questions please contact us at: info@tmpsolutions.com