The International Air Cargo Association (TIACA) predicts the next 12 months will be challenging for air cargo demand as the market faces reduced consumer spending due to high inflation, high-interest rates, high energy costs, and concern over job security. TIACA expects national economics to have a significant influence during the first half of 2023. It […]
Read MoreThe ATA’s For-Hire Truck Tonnage Index decreased a further 2.5% in November following a drop of 1.2% in October. The Tonnage Index is largely calculated on contract freight, rather than the spot market freight. “For-hire truck tonnage saw the largest single monthly decrease in November since the start of the pandemic and a total drop […]
Read MoreA key finding from Boston Consulting Group’s (BCG) new report “Customers’ Willingness to Pay Can Turn the Tide Towards Decarbonized Shipping” shows the urgency to address climate issues in the sector have grown. Of those surveyed, 82% are prepared to pay extra for CO2-neutral transportation, up from 71% a year ago (see Figure). The […]
Read MoreGlobal trade will reach a record US $32 trillion in 2022, with trade in goods expected to total US$25 trillion, a 10% increase in trade of goods over 2021, said the United Nations Conference on Trade and Development (UNCTAD). The agency said trade growth “turned negative” during the second half of 2022 and there […]
Read MoreCargo volumes have slowed further in November at the ports of Los Angeles and Long Beach. The decline is expected to continue through the second quarter of 2023 or later. Port of Los Angeles Executive Director, Gene Seroka said during his monthly media briefing that between August and November, the port had experienced a 21% […]
Read MoreBooking levels are showing no signs of increasing through the peak shipping period. Having moved up shipping schedules and increasing inventories in response to supply chain disruptions, U.S. and European businesses remain well-stocked with goods this year. Container Trade Statistics (CTS) data shows the demand collapse escalated in October. In a LinkedIn post, Lars Jensen, […]
Read MoreBoeing is projecting robust demand for air cargo services through 2041 with traffic doubling and the global freight fleet expected to grow by more than 60%, according to the company’s World Air Cargo Forecast report (see Figure above). The average annual growth rate is projected at 4.1% over the next 20 years. In comparison, […]
Read MoreThe global rise in consumer prices could be peaking, Kristalina Georgieva, managing director at the International Monetary Fund said. She warned that inflationary pressures could prove more persistent than in the past given heightened geopolitical tensions and a fragmentation in global manufacturing supply chains. “We actually think inflation is going to be harder to […]
Read MoreAccording to CLIVE Data Services, air cargo volumes have declined -8% year-on-year, for an eighth consecutive month in October. The market outlook “remains uncertain” with “no indication there will be a peak” during the traditional Christmas peak weeks, said CLIVE. The drop in demand, measured in chargeable weight, stayed -3% below the pre-pandemic level […]
Read MoreContainer shipping stocks are collapsing as rates and demand for many cargo segments continue to rise. Recession fears are growing almost as much as new job listings. Inflation is spiraling while trucking rates collapse. China decides to print more money as the US Federal Reserve raises rates. Labor negotiations have ground to a halt. The […]
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