Several shipping liner executives predicted a gradual decline in spot container rates levels during their latest quarterly calls. Maersk CFO Patrik Jany said it would be a “progressive erosion” not “a one-day drop”, while Matson CEO Matt Cox noted rates were “adjusting slowly” and not “falling off a cliff”. Yet, container spot rates appear […]
Read MoreContainer spot freight rates have taken on double-digit declines week-on-week on some of the major trades. The Trans-Pacific Eastbound Asia-U.S. West Coast trade is around 80% lower than at the same point last year according to the Freightos Baltic Index (FBX). Further, the shift of U.S. import volumes from West to East Coast ports was […]
Read MoreThe latest 2Q2022 findings of the Container Shipping Market Quarterly Review produced by MDS Transmodal and Global Shippers Forum (GSF), noted that average earnings per container carried had fallen for the first time since 2020. Total container carryings in the second quarter of 2022 also remained lower than the year-ago level in the same period. […]
Read MoreAccording to data from Industrial real-estate services firm JLL, logistics and distribution firms and 3PLs are the top takers of warehouse space in the U.S., accounting for 15% and 13.1% of the total area respectively (see Figure below). The tightness in warehousing space for the 3PL industry in the U.S. has exponentially increased lease […]
Read MoreThere are no signs of a peak season demand for air cargo. Figures by data provider TAC Index showed overall airfreight rates were down -0.8% compared with the prior seven days, according to the Baltic Exchange Index (BAI). TAC noted prices were relatively unchanged from most major outbound locations. The data firm said that with […]
Read MoreCHINA: The heatwave in China has forced some manufacturers in 19 cities and jurisdictions in China to shut down production for six days due to government-planned power cuts. Manufacturing power disruptions are also reported in Shanghai. The interruption is creating more bumps in the road with the approaching seven-day Golden Week holiday in October as […]
Read MoreThere is a substantial gap in fleet sizes between the leading carriers and the rest of the container field. The top 10 container shipping lines operate 21.8 million TEU of capacity compared to the next 20 carriers which have a combined 2.5 million TEU of capacity, according to Alphaliner data. Proportionally, larger shipping lines have […]
Read MoreThe air cargo market is holding its own despite the onslaught of economic pressures in the past year. According to the latest industry analysis by Xeneta-owned CLIVE Data Services, chargeable weight fell 8% year-on-year (y/y) in December and the general airfreight spot rate registered its largest y/y decline of 35% while capacity recovered […]
Read MoreThe world’s biggest container lines are on course to post profits in 2022 that will top last year’s record by 73%, according to a new forecast. Net income this year will likely reach $256 billion, roughly equivalent to the gross domestic product of Portugal, based on the 11 carriers monitored by industry veteran John McCown, […]
Read MorePeak season for container shipping typically occurs in the third quarter of each year. This is a time when goods are shipped from manufacturing centers in Asia and elsewhere to Western markets like North America and Europe. Herbert Lee, Shipco’s regional director for Hong Kong & South China, describes what happens when demand for shipping […]
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