The latest market analysis from CLIVE Data Services reveals that air cargo capacity has exceeded pre-pandemic levels for the first time in four years. In February, global air cargo capacity increased by 11% compared to the same period last year. However, global air cargo volumes fell by 4% YoY and rates remained stable. This […]
Read MoreAsia Trade Lane Price Drop The contrast between the import rates from Asia in 2022 and those in 2023 is quite striking. Just half a year ago, it was not unusual for ocean rates to be in the five-figure range. However, presently, the shipping industry has become fiercely competitive with rates dropping even below the […]
Read MoreThe average contract cost to ship a container from China to the U.S. West Coast fell from $8,607 last April to $2,618 in February Retailers in the U.S. hope to slash shipping costs and save millions of dollars when they sit down later this month to negotiate long-term contracts with ocean carriers following last year’s […]
Read MoreThe two largest global container lines have mutually agreed to end their vessel-sharing partnership in January 2025. A joint statement by Vincent Clerc, CEO of A. P. Moller – Maersk, and Soren Toft, CEO of MSC, said that discontinuing the vessel-sharing alliance would allow both companies to “pursue their individual strategies”. Consultant Drewry observed […]
Read MoreWhen Malcom McLean introduced the world to container shipping in 1956, it not only touched off a seismic shift in the way cargo was handled but also the equipment and infrastructure needed to support containerized operations. Loading and unloading cargo from ships piece by piece in breakbulk operations, a process that could take days and […]
Read MoreWith Chinese New Year starting Sunday, and manufacturing and logistics operations virtually shut down there for two weeks, experts say retail inventory levels are in a good place given recent gluts and proactive restocks, but the weeks following will bear watching and might bring issues. System shutdowns related to Chinese New Year, which runs from […]
Read MoreEconomic pressures continue to hamper consumer spending, and industry players are not expecting to see the usual increase in demand as factories close for the two-week holiday. According to a global freight forwarder, the year-end holiday in 2022 did not deplete stock levels. For this reason, a limited uptick in demand is expected after the […]
Read MoreAnalysts and transportation companies agree that despite ongoing COVID challenges in China, it will not result in a widespread crisis leading to a shortage of goods and congestion in supply chains. The decline in China’s industrial production cannot be solely attributed to a lack of Chinese labor due to the pandemic. It is also a […]
Read MoreDrewry’s WCI Asia-North Europe index recorded a 10% increase in the spot rate reading from pre-Christmas levels yet, export demand to North Europe ahead of the Chinese Lunar New Year (CNY) remains dampened and that is expected to continue post-holiday. Lars Jensen, CEO of Vespucci Maritime says the rate spike on the tradelane needed to […]
Read MoreA slowdown in production typically takes place in the period around the Chinese Lunar New Year (CNY) with shipping lines blanking sailings to balance supply with demand. Yet, despite a market faced with stagnated demand growth and declining freight rates, carriers have not acted to reduce additional capacity during CNY 2023. Sea-Intelligence data […]
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