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After more than two months, Shanghai officially exited lockdown on June 1st. An estimated 260,000 TEU of export cargo was not shipped from Shanghai in April due to the lockdown. And given that the summer peak season is normally busier, we expect a strong volume and new capacity shortages.


Rate levels from Asia are dropping. Comparing YoY pricing trends, we can see that the levels are getting close to last year’s rate. We also expect that rates will grow soon due to summer peak season, could take place in the next few weeks.


Global port congestion has grown in the last few weeks due to increased congestion in eastern and northern Chinese ports mainly around Ningbo and Qingdao. North America showed a high level of congestion, mainly on the East Coast where there is heightened congestion around New York, Savannah and Houston. West Coast is shown continued improvements in LA/LB recording the best performance since August 2021.

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