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The latest Drewry World Container Index is now 85% below its 2021 peak and 42% lower than the 10- year average, indicating a return to more normal prices. However, it remains 10% higher than average 2019 (pre-pandemic) rates. (more…)
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While much has been made of the impact of the peak season from Asia on sea freight rates, arguably the line’s capacity management is a bigger driver, with rising rates to the US and attempts to recover revenue from Asia…
Read MoreA subdued peak season, followed by a lengthy slack period, will prompt further rate erosion and while the Asia to Europe sea freight trade-lane has been relatively healthy and positive in June, with record numbers of new- build capacity being…
Read MoreWhile Europe’s GDP growth is projected to slow to 0.7% in 2023, record volumes of new ships are joining a global fleet, which is sailing at ever slower speeds, as the shipping lines attempt to absorb additional capacity, by diminishing…
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Capacity utilisation had remained high from Asia, primarily due to blank sailings and a slight recovery in cargo, but utilisation levels slipped due to China’s Golden Week holidays and while global air freight capacity was up 15% last month, rate…
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Things have not been easy for the container shipping lines in recent months, but this appears to be changing, with full ships and stabilising spot rates, after months of rate erosion and abundant capacity. The International Air Transport Association (IATA)…
Read MoreFurther pressure on freight markets will build as airline passenger capacity is added and the container shipping lines receive new-build vessels, but there are hopes that rate erosion may still ease, as rock-bottom prices are not good if carriers decide…
Read MoreEven as rates move back to pre-COVID levels and port congestion and delays clear away, our freight market reports and insights aid decision making and the avoidance of supply chain risk. The continued fall in global container freight rates that…
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