Global 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 […]
Read MoreBelow-deck capacity has significantly increased in Asian markets with rising long-haul passenger numbers, but freight demand in key markets of Europe and North America is slackening. Air cargo spot rates out of China have fallen sharply through the third quarter and into October, reflecting the supply-demand imbalance. Average rate levels from Shanghai to North Europe […]
Read MoreEffective ocean carrier capacity will be decreased by up to 15% between 2023 and 2024, a result of new global fuel efficiency rules, along with slow-steaming and scrapping. The reduction will occur in spite of a continuous increase in newbuilding deliveries, container shipping analyst Lars Jensen has said. Total container shipping capacity will expand 8 […]
Read MoreMultiple indices continue to report steep declines in the consolidated shipping market. Maritime consultants Drewry lowered its demand outlook for 2022 to 1.5%, and to 1.9% for 2023 following heavily downgraded GDP predictions. The consultancy suggested carriers would take defensive action such as demolishing older, high fuel consumption vessels and deferring orders of newbuilds to […]
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