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Over seven months have passed since the Galaxy Leader was hijacked by Houthi rebels from Yemen, and despite numerous US and coalition strikes, attacks on merchant vessels have increased. Conflicts in the Middle East often extend for years, influencing container…
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The IMF’s latest World Economic Outlook puts world trade growth at 3% and 3.3% for 2024 and 2025, respectively, while the OECD and WTO predict trade volumes will grow 2.6% and 3.3% in 2024 and 2025, respectively, which is more…
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The UK and Euro area economies moved back into expansion territory at the end of the first quarter, with manufacturing growing for a third successive month and new orders (PMI) accelerating to seven-month highs, with 2024 global GDP forecasts revised…
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Heading into the post Lunar New Year slack period sea freight spot rates retained most of their recent gains and while Drewry’s World Container Index dropped slightly in March it remains 80% higher than 2023 and 130% more than average…
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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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