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Logistics News with TELS GLOBAL
Air freight rates are decreasing, but they will not return to the pre-coronavirus crisis levels
The average spot air freight rate was $2.73 per kg that is 35% lower than a year earlier, but 52% higher than in 2019.
Chinese auto exports switch to container shipping
Insufficient pure car and truck carrier (PCTC) space and lower rates for container transportation are driving some Chinese car-makers to use containers to export their automobiles.
Contraction in demand and collapse of rates: shipping container market risks
Maersk has put the collapse of the shipping container market first on the list of risks the industry will face in 2023.
Containership time charter rates fell by 8% in January
Containership time charter rates have been falling for 11 months in a row, but have so far remained 60% on average above levels of the end of pre-COVID 2019.
Air Cargo Turnover Fell by 8% in 2022, and Will Continue Falling in the Next Year
Global air travel grew by 64.4% last year compared to 2021 (in revenue passenger-kilometers, RPK). At the same time, air travel remains down by 31.5% compared to pre-pandemic figures in 2019.
Global Container Shipping Market Contracting by Almost 4%
According to the Container Trade Statistics (CTS), the global container volumes decreased by 3.9% over the past year (down to 173.7 million TEUs), but remain 2% higher than the level of the “pre-corona crisis” 2019.
The IMF has improved its global economy forecasts
The International Monetary Fund increased its global GDP growth forecast for 2023 by 0.2 percentage points to 2.9% (in 2022, growth was 3.4%).
New Silk Road traffic to/from Europe decreased by 38%
The decline in cargo volume is a result of the global energy and manufacturing crisis and China’s internal restrictions due to increase in COVID-19 cases.
Air freight down by 15% compared to January last year
According to Xeneta, air cargo rates as of mid-January of this year were on average 15% lower than at the beginning of last year, but continue to significantly exceed the level of pre-corona crisis 2019.
Consumer demand is changing globally, carriers are cancelling sailings
The increase in the number of cancelled sailings indicates a worrying trend in consumer demand, analysts anticipate.
Turkish feeder operators are gaining the lead in the Black Sea
Turkish feeder operators are stepping up market share in container shipping in the Black Sea, covering for the decline in activity of most line-haul operators.
Business security of TELS GLOBAL clients is well protected
In December 2022, TELS GLOBAL received the ISO 28000 certificate confirming the high level of security in the supply chain management.
Cargo Carriage Around Africa Becomes Cheaper Than Through the Suez Canal
Alphaliner estimates that the bunker cost for a through Rotterdam-Singapore voyage around the southern coast of Africa ranges from $390,000 to $440,000, and a passage through the Suez Canal costs about a million dollars for a Megamax vessel.
The Forecast for the World GDP is Again Revised Down, But the EU is Waiting for Improvements
The World Bank has revised its global growth forecast to 1.7% in 2023 and 2.7% in 2024 instead of 3% for both years in the previous version.
Losses of air carriers, as well as the volume of cargo transportation will be cut
According to the calculations of the International Air Transport Association (IATA), revenue from passenger traffic, according to the Association’s forecasts, will reach $438 billion in 2022, and will exceed $520 billion in 2023.
Terms of new long-term maritime contracts are reduced to less than six months on average
The average duration of new contracts has been declining since mid-2022. At its peak, in the second quarter, the average duration of new contracts was 12 months; in the fourth quarter, this figure dropped to 5.5 months.
The world’s biggest shipping lines acquire their own air fleet
Since 2021, a number of the biggest logistics companies specializing in sea and land transportation have begun to actively enter the cargo aircraft segment.
Deployed capacity will be too high for the “low season”
anish shipping data analysis company Sea-Intelligence estimates that deployed capacity on key Asian container export routes to Western consumer markets during the 2023 Chinese New Year season will exceed the levels of 2021, which was characterized by record high demand for transportation. A further drop in freight rates should be expected under these conditions.
Importers and manufactures are looking for solutions “closer to home”
Recent supply chain disruptions have led to a global trend of sourcing and moving production closer to home, according to the latest Reuters study “A generational shift in sourcing.”
China defuses anti-COVID measures
The Chinese authorities have announced the most significant easing of lockdown measures since the beginning of the pandemic, introduced as part of a “zero-Covid” policy. The main principle for their introduction will now be the minimization of “high risk” areas, which are subject to the quarantine regime when coronavirus cases are detected: its extension to include entire districts and cities will now be considered redundant.