The container shipping industry is experiencing a worrying trend – a repeat of the supply chain disruptions that plagued the world during the pandemic. This shortage of ships, coupled with high demand, threatens to send shipping rates soaring and cause significant delays. Unless there’s a quick turnaround, freight rates could skyrocket, potentially reaching a […]
Read MoreThe spot rates for shipping goods from Asia to the US have risen sharply this week, as carriers applied the planned GRIs on Jan. 15 and added a PSS for both the West and East coast deliveries. Moreover, importers who send their cargo to the East Coast through the Panama or Suez canals, or […]
Read MoreWhile the 2024 crystal ball remains cloudy, a glimmer of hope shines for the air cargo industry. Geopolitical turmoil and unpredictable supply chains could create a surge in demand for its reliable services. December saw promising signs: Demand surged 9% year-over-year, partly driven by a weak 2022 comparison. Spot rates climbed to their highest in nine […]
Read MoreAfter several years of volatility, the air cargo market is anticipated to stabilize in 2024, with a return to “classic seasonality.” However, industry experts caution that unforeseen events could still cause turbulence. Data provider Xeneta projects modest growth of 1-2% for air cargo volumes in 2024, while supply is expected to increase at a slightly […]
Read MoreAirfreight rates continue to soar as a combination of extreme weather events, volcanic activity, and ongoing conflicts disrupts global air cargo capacity. The latest figures from TAC Index reveal a 4.6% increase in the Baltic Air Freight Index for the week ending November 20, compared with the previous week. China leads the charge in rate […]
Read MoreOcean carriers are facing the threat of lower contract rates in 2024, as spot market prices remain under pressure. A new analysis by Xeneta shows that its long-term freight rate index declined by 2.6% in October and has fallen by 62.2% in the past 12 months. The firm expects the decline to continue in the […]
Read MoreAir cargo demand hopes for a late-year surge faded in October, with data showing only a slight increase in demand. Xeneta, a data provider, reports that air cargo demand rose 2% in October compared to September, which it describes as “sub-seasonal” compared to the previous five years. General air cargo spot market rates also increased […]
Read MoreAir freight rates on major east-west routes rose faster than expected in October, as the industry entered its traditional peak season. The Baltic Exchange Airfreight Index (BAI) showed that average spot and contract rates from Hong Kong to North America increased by 18.4% compared with September to $5.80 per kg. This is still 13.9% […]
Read MoreThe air cargo industry has seen some improvement in recent weeks, with rates tightening and demand increasing. However, experts remain cautious, warning that it may be too early to celebrate a full recovery. The Baltic Exchange Airfreight Index (BAI) rose 0.7% in the week to October 9, cutting its year-on-year decline to -29.2%. This […]
Read MoreFreight rates are higher and scheduling complications are worse than pre-COVID ‘normal’. Container rates for U.S. imports have normalized. Rates for America’s exports have not. Both spot and contract rates for U.S. exports are still up double digits from pre-COVID levels. And rates are not the biggest cost issue exporters face, according to Peter Friedmann, […]
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