Latin America Market Enters September with Firm Pricing and Persistent Capacity Pressure

The Asia-Latin America market is entering September with sustained upward pricing momentum and tight space conditions across all major trade lanes. Rates are expected to increase on a weekly basis during the first half of September, with East Coast South America showing the strongest upward direction and Mexico/West Coast South America following a similar trajectory. Maersk’s Peak Season Surcharge for East Coast South America, implemented from August 20, remains in effect throughout the period, while carriers continue managing capacity through selective port omissions rather than full blank sailings. Shanghai and Ningbo have experienced the highest number of omitted vessel calls, contributing to space tightness particularly on direct services to Callao, Guayaquil and Buenaventura on the West Coast South America trade.

To help you better understand the current market dynamics and support your sales activities at origin, please find below our latest observations and outlook for the first half of September.

Rate Direction and Pricing Trend

• Freight rates are generally expected to increase on a weekly basis during the first half of September across all Latin America trade lanes. East Coast South America is projected to see substantial weekly increases, while Mexico and West Coast South America lanes are expected to follow with moderate weekly upward adjustments, reflecting the differentiated supply-demand balance across the network.
• Maersk’s East Coast South America Peak Season Surcharge, which took effect from August 20, will remain in place throughout the first half of September. The surcharge applies across all container types and is supporting the elevated pricing environment on East Coast South America services, where space remains consistently tight and carrier allocation discipline continues.
• East Coast South America freight rates remain strong, with Peak Season Surcharge levels significantly higher than those applied to West Coast South America services. This pricing differential reflects the tighter capacity situation and stronger demand fundamentals on the East Coast South America trade, where direct service options are more limited and transit times command a premium.
• The launch of ZIM’s new Falcon Service on September 18 may provide some relief to the East Coast South America market and potentially limit further rate increases during the latter part of the month. The service will offer direct connectivity from Shanghai to major Brazilian ports including Rio Grande, Paranagua, Itajai, Santos and Rio de Janeiro, with Buenos Aires and Montevideo served via Rio Grande transshipment, adding meaningful weekly capacity to the trade.
• For partners handling larger-volume shipments or project cargo to Latin America destinations, we encourage direct engagement with our pricing team. Market conditions remain negotiable depending on shipment profile and routing requirements, and tailored solutions are available to support your commercial objectives during this firm pricing period.

Capacity and Space Situation

• Space is expected to remain tight during the first half of September across all Latin America trade lanes. Unlike traditional blank sailing programmes affecting entire voyages, carriers are now more frequently managing capacity by omitting selected origin ports, creating uneven space availability across the Asia export network and requiring partners to plan bookings with greater flexibility.
• Shanghai and Ningbo have experienced the highest number of omitted vessel calls among major origin ports, directly affecting space availability for Latin America-bound cargo. Partners with shipments originating from these gateways should engage with us early to secure allocation and explore alternative routing options where necessary.
• Direct space to West Coast South America destinations remains particularly tight, with Callao, Guayaquil and Buenaventura services operating under strong allocation discipline. East Coast South America space also remains consistently tight throughout the period, supported by sustained demand and limited service frequency on these longer-haul routes.
• ZIM’s Falcon Service maiden voyage is scheduled for September 18, departing Shanghai with arrivals at Rio Grande on October 21 and Santos on October 31. While this new service will add meaningful capacity to the East Coast South America trade, it will not provide any relief to space conditions during the first half of September, as the maiden sailing falls outside the period covered by this update.
• No large-scale vessel withdrawal programme has been announced for the first half of September. The absence of traditional blank sailings, combined with the selective port omission strategy carriers are employing, suggests that space tightness will persist but may be more manageable through early booking and flexible origin-port planning.

Operational Developments and Market Drivers

• Shanghai and Ningbo ports are recovering from severe congestion experienced in recent weeks. Shanghai’s average vessel waiting time over the past week was approximately five days, while Ningbo recorded around three days. Both ports have resumed normal operations with container yards, trucking services and warehouses supporting the gradual recovery of cargo flows.
• Buenaventura port and inland operations in Colombia remain in the recovery stage following the August 10 earthquake. Vessel and terminal operations have gradually resumed, but yard utilization remains high and the Cali-Buenaventura corridor continues to experience landslides, infrastructure inspections and traffic restrictions. Container pickup, empty-container returns and customs inspections may experience delays.
• Santos port set a new import volume record in July with year-on-year increases of 22 percent in container count and 24 percent in TEU terms. The port terminals and inland logistics network are operating under heavy pressure from this elevated import activity, which may affect turnaround times and equipment availability for export cargo during September.
• The Panama Canal Authority has adjusted transit capacity and booking arrangements due to reduced rainfall, with cumulative May-August precipitation 34 percent below the historical average and watershed inflows 44 percent below average. Effective September 4, Neopanamax daily booking slots have been reduced to nine and Panamax slots to 25, with limited availability in Booking Period 2.
• Hapag-Lloyd will introduce a Low Water Surcharge for Manaus effective September 12, reflecting the challenging navigation conditions on the Amazon River system. The surcharge applies to all container types and underscores the operational constraints affecting inland Brazil services during the current dry season.
• September remains part of the active typhoon season in the Northwest Pacific, with ports in East China, South China, the Philippines and Vietnam potentially experiencing temporary port omissions, closures or trucking restrictions. These weather-related disruptions cannot be predicted in advance, and partners should maintain flexible booking strategies to accommodate potential schedule adjustments.

RS Logistics will continue monitoring carrier pricing strategies, capacity deployment adjustments, port operational developments and Panama Canal transit conditions closely. Our teams across China and Southeast Asia remain available to support booking planning, routing evaluation and space coordination for upcoming Latin America shipments. We will continue sharing timely updates as market conditions evolve.

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