Asia Freight Market Update Ahead of China’s Golden Week
China’s National Day takes place this Thursday, commemorating the founding of the People’s Republic of China in 1949 and marking the start of the annual Golden Week holiday.
Running from 1st to 7th October, the holiday brings celebrations across the country, particularly in Beijing, as well as factory closures and reduced business activity. Some disruption to production has already begun, with the Mid-Autumn Festival on 25–27 September falling just ahead of Golden Week this year.
The main shipping markets are currently following different paths. Asia–Europe demand has softened after an early peak season, providing some relief for now. The transpacific market, however, remains busy, with strong seasonal demand, cancelled sailings and limited capacity keeping rates elevated.
The effects of recent storms continue to add to congestion across Asian ports. Delays at some Shanghai terminals have reached six to eight days, while crowded yards remain an issue in Ningbo. In Europe, congestion at Rotterdam and the possibility of indefinite strikes at German ports are ongoing concerns.
In the UK, the latest reports indicate no immediate operational issues at Felixstowe, Southampton or London Gateway, where congestion has recently eased.
Continuing disruption around Hormuz is keeping fuel prices high and maintaining pressure on fuel surcharges. Although President Trump rejected Iran’s latest proposal, which included reopening the strait, further talks are expected this week, providing some grounds for hope.
Developments at Suez offer further encouragement. Maersk and Hapag-Lloyd announced the return of four additional services to the canal route this month. Meanwhile, September figures from the Suez Canal Authority show 67 Maersk transits and 60 by CMA CGM. Other carriers are considering returns or trial passages, potentially improving transit times and capacity between Asia and Europe.
Killick Martin will continue to monitor the situation closely and keep customers updated on developments that could affect their shipments.
We wish our customers, partners and colleagues celebrating a very happy Golden Week!
