Ocean freight rates from Asia to North America have spiralled to new record highs and are currently averaging three times the rates being seen on the Asia/Europe market.

With space being an ongoing issue on both trades, it is the North American market that has seen the biggest surge in demand.

Despite being in the middle of a trade war, and following twelve months of tit-for-tat tariff hikes, products moving from China to the US have certainly not slowed down. In fact, there are signs of growth compared to the peak season last year.

Profitability for steamship lines on the Transpacific route can dwarf any returns made on Asia/Europe. The shorter nautical distance means that a typical weekly vessel loop can be covered by six ships compared to twelve from Asia to Europe and back.

The high demand on both trades has led to equipment shortages at Asian origin points, which has raised concerns for European importers in particular. With the higher rates and profitability of the transpacific routes obvious, there is a feeling that equipment is being prioritised for North American loads.

Westbound are monitoring the situation closely and working extremely diligently to protect as much space as possible for clients. However, we do recommend building in additional lead time for all current orders, to allow for the possibility of rollovers and short shipments.

At Westbound Logistics we pride ourselves in offering personalised and tailored logistics solutions. To find out more please call 01375 800800​ oemail info@westboundglobal.com.