Vietnam – market wrapped up third quarter with this period year ending at a strong note having raw material traded at about 81500 VND/kg with a reported alarmingly low stocks in raw material at origin.
Thus, full September month average is noticeably higher of about 62% from last year same month period, while a full third quarter average have soared of about 58% from last year same period quarter.
Beginning of fourth quarter once again headed to a firm footing with week 40 raw touching at about 83000 VND/kg – highest raw price recorded so far with about 55% increased from beginning year until today.
Shortage of raw materials and unavailability of containers are both throwing everyone out of balance with an earlier report that 2022 crop is projected to be poor causing majority of farmers/dealers to keep and hold their current remaining stock position today.
Indonesia – continued to be inactive with lack of export interest. This does not stop market to remain firm at level $4275 FOB. Situation in ocean freight remains an existing issue as well up until now.
Brazil – in strong demand that boosted price to go up at about 2-3% from last noted price. However, there’s a risk factor involve with the worsening situation in Vitoria port of where majority of order loads are being shipped.
News circulating that MSC carrier has lodged a bid to take over Brazil’s Log-In Logistica Intermodal of which latter is known to have seven (7) feeder box ships in its logistics portfolio.
If the takeover will happen, majority fears freight could increase as MSC is known to offer premium freight prices compared to other carriers.
Container shipping to USA remains uptight heading to last quarter of the year. We have noticed the elusiveness of Baltimore bookings from Vietnam since August month with a reliable source informing that vessel catering to this destination have quenched down to 34 containers. As peak season kicks off, port congestion worsens in China and USA, Daily Breeze reports 70 ships sitting outside the Ports of LA and LB—an estimated 525,000 40-foot containers that need to be unloaded. Though other sources are claiming there are more than double that—waiting off Shanghai and Ningbo in China
Nowadays it is either difficulty in sourcing raw material at origin or shipping it out of origin due to freight booking issues both influencing the current market scenario. Equally a serious exorbitant price must be paid whatever origin market you wish to participate or take a bet on.
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