Hong Kong to Southampton: Ocean freight rates peaking up with consistency

Let’s go back this week to a more « traditional » corridor from Asia to Northern Europe, with a “British” and retail driven dedicated flavor: Hong Kong - Southampton.

The UK has always been a HC massive finished product import market, one of the strongest in Europe in terms of volumes and rates, as long as carriers can offer acceptable transit times with a UK first port of call in the North Continent range.

Hong Kong is losing ground slightly in terms of transshipment activity compared with Singapore, but it is still a very strong base port, enjoying the neighborhood developments of Nansha, Yantian, Shekou and Shenzhen areas.

Space is now reported to be tight from this area. It is quite normal: At this time of the year, we can see demand peaking and rates increasing week after week. Not yet a real peak season syndrome, but a more acceptable spot market for carriers, after the always « depressive » post- Chinese New Year effect. We expect demand to be strong at least up until week 23 on this lane.

Photo credit: Pixabay