November Freight Market Update

November brings the first signs of relief after months of rising freight rates. China to Australia rates have eased 6% over the past four weeks, US rates have levelled off, congestion at major Chinese hubs has improved, and carriers are returning to Suez routings, including a reinstated direct Europe to Oceania service. It isn’t a quiet month though. Peak season has arrived for Australian and New Zealand importers chasing Christmas stock, New Zealand rates are still edging up, and on the US West Coast, port congestion and a Los Angeles rail backlog are delaying some containers by up to four weeks. Here’s what’s moving in Australia, New Zealand and the United States this month, and what it means for your bookings.

Ocean Freight, Australia

China to Australia: November at a Glance

Across weeks 45 to 49 (w/c 2 November to 30 November 2026), carriers are offering 324,343 TEU from China to Australia. Of that, 19,919 TEU, or 6.1% of capacity on offer, has been blanked, all of it in weeks 45 to 47. The 20DC market rate has eased 6% over the past four weeks, though it’s still more than double where it was a year ago.

Source: Xeneta, Linerlytica, Navia transit data.

Plenty of Capacity, and Chinese Hubs Are Recovering

Carriers have deployed significant capacity out of Asia for November. Typhoon Champi is the latest to hit the region, affecting Taiwan, northern China and Japan. Delays persist at major Southeast Asian transshipment ports, but the major Chinese hubs of Shanghai and Ningbo are running much better than they were in October.

Blank Sailings, China to Australia and New Zealand

Blankings are concentrated early in the month. Week 45 (w/c 2 November) sees blanks on the Panda/ZAX service (MSC, ZIM), the A3S string (ANL, COSCO, OOCL) and PAX 2 (ANL, CMA CGM). The CAT/STA service (Hapag-Lloyd, Evergreen, Yang Ming, TSL) follows in week 46, and the PAX service (ANL, CMA CGM) in week 47.

Source: Linerlytica.

Access to Space

Sea freight space from China is still tight into Australia and New Zealand, but equipment has eased from tight to balanced since October. Southeast Asia has also improved, moving from tight to balanced on space, with good equipment availability. Sea freight from the USA and Europe remains in good shape, while Europe to ANZ is still the tightest air lane.

Good supply: book 2 weeks ahead. Balanced: book 3 weeks ahead. Tight supply: book 4 weeks ahead.

Rates

Rates into Australia have eased over the past month. The Drewry World Container Index is currently at 4,585 USD per 40ft. The Shanghai Containerised Freight Index shows market rates from Shanghai (CNSHA) at 3,680 on the global index and 2,553 USD/TEU on the AUNZ index, down from 2,833 last month. Xeneta’s intelligence puts the Shanghai to Australia rate at approximately 2,650 USD/TEU, down from around 2,900 in October. This is a raw freight rate excluding surcharges and local charges.

Fastest on the Water Isn’t Fastest Overall

Once origin departure delays are added to sailing time, the A3C/SAC service (ANL, COSCO, OOCL, PIL) takes the lead from Shanghai to Australia at 19.6 days (15.9 days in transit plus 3.7 days of origin delay). That’s just ahead of Maersk’s Qilin at 19.8 days, which is still the fastest on the water but lost 6.4 days at origin. The Panda/ZAX service is the biggest climber, rising from ninth on transit time to sixth overall thanks to a relatively short 5.3-day origin delay. The A3N service falls from eighth to last, with the longest origin delay of any service at 12 days.

*Koala discharges at Fremantle; all other services Sydney/Botany. Source: Xeneta, Linerlytica, Navia transit data.

Carrier Performance

Every service to Sydney and Fremantle is now running at or behind its scheduled transit time, with the CAT/STA service more than six days late. Origin delays have grown on several strings, reaching around 12 days on A3N and NEAX. Cancellation rates remain high, at 85% on Panda/ZAX, 83% on A3N and 50% on Qilin.

Ocean Freight, New Zealand

China to New Zealand: November at a Glance

Across weeks 45 to 49 (w/c 2 November to 30 November 2026), carriers are offering 56,449 TEU from China to New Zealand. Of that, 2,882 TEU, or 5.1% of capacity on offer, has been blanked, all of it in week 45. Unlike Australia, the 20DC market rate into New Zealand is still edging up, rising 3% over the past four weeks.

Source: Xeneta (short-term 20DC market average, rates as of 28 October 2026), Navia transit data.

Strong Capacity, Better Conditions at Chinese Hubs

As with Australia, carriers have deployed significant capacity out of Asia for November. Typhoon Champi has hit Taiwan, northern China and Japan, and delays persist at Southeast Asian transshipment ports. However, conditions at Shanghai and Ningbo are much better than they were in October. Weekly capacity into New Zealand swings considerably through the month, from around 5,500 TEU in week 46 to more than 19,000 TEU in week 47, so it’s worth planning bookings around the bigger weeks.

Access to Space

Space and equipment ratings into New Zealand match Australia this month. Sea freight space from China is tight with equipment balanced, Southeast Asia has improved to balanced space with good equipment, and Europe to ANZ remains the tightest air lane.

Good supply: book 2 weeks ahead. Balanced: book 3 weeks ahead. Tight supply: book 4 weeks ahead.

Fuel Adjustment Factor

The chart below shows the latest Fuel Adjustment Factor (FAF). We’ll continue to monitor it closely and keep clients updated on any significant changes.

Rates

The Drewry World Container Index is currently at 4,585 USD per 40ft. The Shanghai Containerised Freight Index shows the AUNZ index at 2,553 USD/TEU. Xeneta’s data puts the Shanghai to New Zealand rate at approximately 3,213 USD/TEU, up slightly on last month. This is a raw freight rate excluding surcharges and local charges.

Service Performance: Fast, but Not Always Sailing

The trade-off between speed and reliability into Auckland has sharpened since October. Maersk’s Northern Star is still the fastest overall at 22.6 days (18.8 days in transit plus 3.8 days of origin delay), but 54% of its scheduled sailings were cancelled, up from 46% last month. The ANZEX/CNS service sits in the middle at 26.5 days, with 36% of sailings cancelled. JKN/JSTAR (COSCO, Maersk, ONE, OOCL) remains the most reliable, with only 18% cancelled, but it’s also the slowest at 29.9 days.

Cancelled is the share of scheduled sailings cancelled. Source: Xeneta, Navia transit data.

Carrier Performance

Northern Star and ANZEX are both arriving about two days ahead of their scheduled transit time once they sail, while JKN/JSTAR is running nearly four days behind. Origin delays have lengthened on ANZEX and JKN/JSTAR since October, to 6.9 and 6.2 days respectively.

Ocean Freight, United States

China to the US: November at a Glance

Across weeks 45 to 49 (w/c 2 November to 30 November 2026), carriers are offering 2,529,095 TEU from China across both US coasts. Only 121,730 TEU, or 4.8%, has been blanked, down from 13.5% in October. This time the West Coast is blanking more, at 5.5% of capacity compared with 3.4% on the East Coast.

Source: Xeneta. Capacity, plus short-term 20DC market average rates as of 28 October 2026.

US East Coast: Early Signs of Softening

Current rates are expected to be extended through the first half of November. We’re starting to see some softening in the market, along with some welcome news: congestion at Asian ports is easing, carriers are returning to Red Sea and Suez routings, and there are no further restrictions on Panama Canal transits. With congestion and rail dwell times growing on the West Coast, we may also see some demand shift back to East Coast routings.

US West Coast: Congestion and a Growing Rail Backlog

West Coast rates are also expected to be extended through the first half of November, and the same easing at Asian origin ports applies. The concern this month is at destination. The Los Angeles rail backlog is growing, and in some cases containers are taking four weeks to depart by rail. On top of that, ILWU Local 26, which represents around 250 watchmen in Southern California, threatened to strike from Sunday 1 November. Any industrial action would add to the delays already building in the corridor.

Blank Sailings, China to the US

Blank sailings are light on the West Coast throughout November, with fewer than 10% of services blanked each week. The East Coast and Gulf see a heavier patch in the middle of the month, with 10 to 15% of services blanked in weeks 46 and 47 (w/c 9 and 16 November).

Severity is the share of services blanked that week. Source: Linerlytica.

Access to Space

Despite the early signs of softening, space from Asia is still tight into both US coasts, with equipment balanced. India to the US West Coast remains the easiest lane, with good space and equipment, while India to the East Coast and Gulf is balanced on space. Air freight from China to the US is balanced.

Good supply: book 2 weeks ahead. Balanced: book 3 weeks ahead. Tight supply: book 4 weeks ahead.

Rates

Index rates are broadly flat on last month. The Shanghai Containerised Freight Index shows market rates from Shanghai (CNSHA) at 7,525 USD/FEU to the US West Coast and 10,405 USD/FEU to the US East Coast. Xeneta’s index shows average market rates from CNSHA at 7,736 USD/FEU to the West Coast and 10,928 USD/FEU to the East Coast. Both indices reflect freight rates only and exclude BAF, PSS and other surcharges.

Fastest on the Water Isn’t Fastest Overall

Adding origin departure delays to sailing time changes the rankings on both coasts. Into Los Angeles, CMA CGM’s EXX leads at 12.4 days, followed by HEDE’s HDS at 14.1 days. ZIM’s ZX2 climbs from fifth on the water to third overall at 16.2 days. The Gemini WC2/TP8 service goes the other way: it’s third-fastest on the water, but 12.2 days of origin delay drops it to sixth. Into New York and New Jersey, the Ocean Alliance’s USEC8 leads at 39.6 days. USEC2 is the fastest on the water but falls to second once its 10.8 days of origin delay is counted.

Actual transit plus origin departure delay, in days. Services with no recorded actuals are excluded, and early departures count as zero delay. Source: Navia transit data.

Carrier Performance: Los Angeles

Origin delays into Los Angeles have grown on several strings, reaching 22.5 days on the Premier Alliance’s PS6, 16.3 days on PS4 and 12.2 days on WC2/TP8. Cancellation rates are also climbing, with 55% of PS4 sailings and half of MTE and PS3 sailings cancelled. EXX, HDS and ZX2 remain the most dependable options, with short origin delays and few or no cancellations.

Carrier Performance: New York and New Jersey

Most East Coast services into New York and New Jersey are running behind schedule. The Premier Alliance’s EC1 is 11 days slower than scheduled, and MD4/Dragon is running more than eight days late. Cancellation rates are high, reaching 67% on EC2, 54% on USEC8 and 50% on MD4/Dragon, while the MSC/ZIM Empire/ZNS service is averaging 15.1 days of origin delay. USEC4 remains the most reliable option, with only 8% of sailings cancelled.