Asian Shipping: Takeaway from conference call with T.S. Line and shipping expert

This First Read summarizes takeaways from a conference call with an expert from a top tier container liner and the IR manager from T.S. Line. Both speakers are positive on intra-Asia shipping rates in Q4. The shipping expert foresees a normalization of port congestion in late October and a steady decline in transpacific shipping rates, while T.S. Line management believes intra-Asia freight rates will remain more resilient than long-haul routes following the normalization of Red Sea shipping traffic and substantial container shipping deliveries in 2027. Port congestion in East China has caused vessel waiting times of about 3 to 10 days in September due to August typhoons, while Panama Canal transit restrictions since August have supported elevated transpacific rates. After the National Day holiday, congestion and transpacific rates are expected to moderate from historical highs as seasonal demand fades, whereas strong ASEAN demand in 4Q should keep intra-Asia rates elevated, with Shangh