15 Jan 2023

Trade Growth to Slow Sharply in 2023: WTO

  Global merchandise trade is set to slow next year, facing headwinds ranging from Russia’s war in Ukraine, high energy costs in Europe and the tightening of U.S. monetary policy leading to higher manufacturing costs and squeezing households, the World Trade Organization (WTO) said The WTO said it expects trade growth to only increase 1% […]

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15 Jan 2023

Spot Rates Continue to Decline in Jumpy Airfreight Market

General airfreight spot rates fell -9% year-on-year in September, below the 2021 level for the first time this year, as growing global cargo capacity continues to outpace air cargo volumes, CLIVE Data Services reported. Niall van de Wouw, chief airfreight officer at Xeneta said there are “no indications” demand will increase again. He noted some […]

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14 Jan 2023

Contrary to Ocean Carrier Expectations, Container Spot Rates Tumble

  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 […]

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14 Jan 2023

Has the Bottom Dropped Out of the Air Cargo Market?

Several major air cargo operators are signaling an anticipated drop in demand or a flattening of the capacity requirements which characterized the pandemic. According to IATA’s latest industry update, air cargo capacity in June and July were tracking close to pre-pandemic levels but was measured against lowered demand which contracted by -5% year-on-year in August, […]

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14 Jan 2023

Warnings of Capacity Withdrawal by Ocean Carriers as Spot Rates Sink

Container 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 […]

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10 Jan 2023

Air Cargo Market December average rates remained 75% above the pre-COVID level

    The 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 […]

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02 Dec 2022

FMC FACT FINDING INVESTIGATION 29 EFFECTS OF THE COVID-19 PANDEMIC ON THE U.S. INTERNATIONAL OCEAN SUPPLY CHAIN

  Commissioner Rebecca F. Dye today released her Final Report for Fact Finding 29, “The Effects of COVID-19 on the U.S. International Ocean Transportation Supply Chain,” a two-year investigation involving hundreds of Commission stakeholders participating through Team meetings, phone conversations, emails, and presentations to various groups. Commissioner Dye presented the Final Report with twelve Final Recommendations to […]

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