Freight market update - 11 September 2025

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• After a weak peak season and eleven straight weeks of falling rates, Asia-Europe bookings have already dropped by 5–20% within just a few weeks.

• According to Sea-Intelligence, global TEU volumes grew around 5% in July, but North America stood out as an exception with four consecutive months of declining imports and sluggish exports.

• Premier Alliance has suspended its PS5 service indefinitely, pulling six vessels of about 4,800 TEU each from the trade.

• Schedule reliability highlights: Gemini leads at 100%, while Ocean Alliance and MSC both show notable improvements.

• MSC reliability improved nearly 20% from June to July, though overall alliance performance remains inconsistent.

• Hapag-Lloyd launches a major fleet upgrade with DNV support.

• Over 100 container vessels are being modified to cut fuel use, lower emissions, reduce costs per tonne-mile, and maximize cargo capacity.

• The initiative aligns with Strategy 2030: positioning HLAG as the “Undisputed Number One for Quality” and cutting carbon emissions by one third by 2030, aiming for net-zero by 2045.

Read on for more in-depth updates.

Asia → North America

US/CA

Transpacific Trends and Market Updates

• Demand remains muted, with no major volume surge anticipated until Golden Week.
• Market activity is flat despite recent GRI applications, as shippers continue delaying bookings.
• Furniture tariffs on Chinese exports are still under discussion and could further dampen demand.
• West Coast congestion is steady, while the East Coast is experiencing rising wait times and rail dwell issues, showing uneven port performance across regions.
• Rates increased in early September after the latest GRIs, but some carriers—like MSC—have already signaled minor downward adjustments.
• With overcapacity persisting, doubts remain over whether these rate hikes can be sustained through the month.
• Capacity is expected to tighten further in mid-September, dip sharply in week 40, and then rise again ahead of Golden Week sailings as carriers manage utilisation against weak demand.
• Premier Alliance has suspended its PS5 service indefinitely, pulling six vessels of about 4,800 TEU each from the trade.
• Schedule reliability highlights: Gemini leads at 100%, while Ocean Alliance and MSC both show notable improvements.
• MSC reliability improved nearly 20% from June to July, though overall alliance performance remains inconsistent.

Central China

• SHA (USWC/USEC): Market is slow with weak demand; space is available but allotments remain unstable and need close monitoring.
• NGB: Market conditions steady, though carriers are managing capacity closely.

North China

• TSN: Market is active; freighter services offer earlier ETDs. Bookings generally require 4–5 days’ notice.
• DLC/PEK: Rates remain stable. Dense shipments can secure spot space, but volume cargo needs 6–7 days’ lead time and may be split. UA flights operating as scheduled.
• TAO: Market stable; space tighter to the East Coast than West. Spot bookings remain available.

South China

• CAN: Early peak season pressure visible. Airlines may increase rates; space confirmation required case by case.
• SZX: Market stable; bookings need individual carrier checks.
• XMN: Market largely unchanged; however, hot weather has reduced space allotments slightly.

Turkey → North America

• Demand has eased as many shippers front-loaded cargo before U.S. tariff uncertainty, driving rates down on key lanes.
• Equipment availability at ports is stable, but inland capacity for 40HC containers remains tight in Germany, Belgium, and Northern France—often requiring bookings 10+ days in advance.
• Carriers are reducing capacity through blank sailings to support rates, with Gemini leading schedule reliability at 96%.
• Severe congestion persists at Antwerp, Rotterdam, Hamburg, and Bremerhaven, with yard utilisation above 90% and average dwell times of 7–8 days.
• Hapag-Lloyd launches a major fleet upgrade with DNV support.
• Over 100 container vessels are being modified to cut fuel use, lower emissions, reduce costs per tonne-mile, and maximize cargo capacity.
• DNV provides technical support and ensures compliance with rules and regulations.
• HLAG has a legacy of 175+ years, built on flexibility and adaptation.
• Rising container demand and stricter emission rules prompted the fleet efficiency drive.
• The initiative aligns with Strategy 2030: positioning HLAG as the “Undisputed Number One for Quality” and cutting carbon emissions by one third by 2030, aiming for net-zero by 2045.

The Fleet Upgrade Program (since 2021)

• Focuses on the most economically feasible measures to lower operating costs, reduce carbon emissions, and increase cargo capacity.
• Supported by HLAG’s dedicated Fleet Upgrade Team and DNV’s Advisory experts.
• Special emphasis on bulbous bow retrofits as part of engineering optimization.
• In 2021, DNV’s Container Excellence Center (CEC) in Hamburg analyzed 78 ships across 11 series.
• Findings were compiled into a detailed fleet overview spreadsheet.

Four main retrofitting measures assessed

• Hull line optimization via bulbous bow modification.
• Propeller retrofits.
• Height increase of lashing bridges and deckhouse elevation.
• Draught increase.

Interdependent retrofitting requirements

• Measures are cost-efficient but technically interconnected.
• Example: a new propeller requires bulbous bow modification to optimize flow patterns.
• Raising lashing bridges may require draught increase, hatch cover reinforcements, and in some cases, deckhouse elevation.
• Seven ships were modified to create 900 additional container slots.
• Upgrades included draught increase, raising lashing bridges, and cutting/re-elevating the superstructure by six metres.
• Currently about two-thirds complete in the first phase.
• Involves up to 150 individual upgrades across the fleet.
• Includes 100+ propeller replacements and up to 50 bulbous bow refits.

North America → Turkey

• After a weak peak season and eleven straight weeks of falling rates, Asia-Europe bookings have already dropped by 5–20% within just a few weeks.
• According to Sea-Intelligence, global TEU volumes grew around 5% in July, but North America stood out as an exception with four consecutive months of declining imports and sluggish exports.
• As a result, Q4 may bring widespread blank sailings as carriers attempt to slow down rate declines, with some trades already nearing unprofitable levels.
• Carriers are beginning to tighten costs: Hapag-Lloyd has introduced a cost-reduction plan aiming for $1 billion in savings by the end of 2026.
• The larger challenge remains overcapacity, as shipping lines are reluctant to cut supply in fear of losing market share.
• With global capacity forecasted to rise by 5–8% annually in the coming years, carriers may soon be forced to adjust despite their hesitation.

Terminal Updates

Vessels heading to North America via the North Atlantic Sea are expected to have a change in schedule due to severe weather conditions.

New York:

• The waiting time for both Gemini and non-Gemini vessels at APMT is around six hours, while Maher Terminals LLC also reports an average waiting time of six hours.
• Average gate turn times are 48 minutes for single transactions and 78 minutes for double transactions at APMT, compared to 39 minutes at Maher.
• The average import rail dwell time is 0.6 days at both APMT and Maher.
• The last new crane on APMT’s East berth is expected to be operational by the end of summer.
• APMT New York is experiencing strong demand for gate appointments and may not be able to accommodate all requests, particularly on vessel cut-off days.

Norfolk:

• Gemini vessels face waiting times of up to 12 hours and non-Gemini vessels up to 24 hours.
• Average gate turn times are 28 and 41 minutes for single and double transactions at Norfolk International Terminal.
• It is 42 and 62 minutes respectively at Virginia International Gateway.
• The average import dwell time in Norfolk is 2.8 days, and North NIT is expected to be operational in late September.

Charleston Terminal:

• Gemini and non-Gemini vessels face waiting times of up to 12 hours at Wando Welch Terminal.
• But there is no waiting time at North Charleston Terminal.
• Average truck turn times are 20 minutes at Wando Welch, 15 minutes at North Charleston, and 17 minutes at Leatherman Terminal.
• The import dwell time is 4.5 days at Wando Welch Terminal and 4.4 days at North Charleston Terminal.

Savannah:

• Average vessel berth waiting times are up to 2.0 days for class 1 vessels and up to 2.3 days for class 2 vessels.
• Average gate turn times in Savannah are 30 minutes for single transactions and 48 minutes for double transactions.
• Import dwell time is 7.4 days, rail dwell time is 0.8 days, and berthing congestion is driven by the Labor Day holiday and vessel bunching from past severe weather.

Houston:

• Gemini vessels face waiting times of up to 3 hours at Barbours Cut Terminal.
• Non-Gemini vessels face up to 12 hours, and Bayport Container Terminal has up to 3 hours of waiting time.
• Average gate turn times at Barbours Cut are 35 minutes for single transactions and 54 minutes for double transactions.
• At Bayport they are 34 minutes and 53 minutes respectively.
• Loaded import dwell time is 3.6 days at Barbours Cut and 3.5 days at Bayport.
• The yard utilization at Barbours Cut remains high with receiving days and cut-off times being adjusted at short notice.

Oakland:

• There is currently no waiting time for Gemini or non-Gemini vessels at Oakland International Container Terminal.
• Average import deliveries at Oakland take up to four days.
• Gate turn time averages 90 minutes.
• Currently, two cranes remain out of service.

Seattle-Tacoma:

• There is no vessel waiting time at Husky Tacoma or Seattle.
• Import rail dwell time is 2.2 days at Husky and 3 days at Terminal 18.
• The average gate turn times are 38 minutes at T18, and 48 minutes for single transactions and 83 minutes for double transactions at Husky.
• Husky will not provide Saturday or hoot gates during week 37.

Los Angeles/Long Beach:

• All terminal gates are operating as scheduled under the Pier Pass program.
• At the Port of Los Angeles, local import dwell time is 3.0 days and on-dock rail dwell is 4.2 days.
• The import units on street average 4.2 days for 20-foot containers and 6.4 days for 40-foot and larger containers.
• At the Port of Long Beach, local import dwell times remain at 4–8 days.
• The average terminal gate turn times at Long Beach Container Terminal range between 47 and 55 minutes depending on the shift.

Chassis Pools

All pools are operating as normal except:

1. Chicago – Deficit on 20’ chassis, Constrained on 40’ chassis.
2. Cincinnati - Constrained on 40’ chassis.
3. Columbus - Constrained on 40’ chassis.
4. Nashville - Constrained on 40’ chassis.
5. Dallas / Ft. Worth – Deficit on 40’ chassis.
6. El Paso – Deficit on 40’ chassis.
7. Baltimore - Constrained on 40’ chassis.
8. St. Louis - Constrained on 40’ chassis.

Intermodal Operations

Truck power can be secured within 1-3 days for the majority of locations, including marine terminals, rail ramps, and depots.

Port Status

Final Thoughts

In light of the latest updates and trends, the market is currently in the course of showing robust performance and is equipped with ample capacity and resources. Individuals and businesses involved in import/export activities must stay well-informed about market dynamics and strategies to make informed decisions.

To ensure a smooth and hassle-free experience with your import/export operations, it is recommended to seek guidance from industry experts. Taking proactive measures and staying proactive in your approach will help you navigate the market effectively. We greatly appreciate your continued readership and encourage you to subscribe to our weekly market updates to stay abreast of the latest developments and insights.