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Logistics News with TELS GLOBAL
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.
The year of 2023 to be “extremely challenging” for ocean shipping market
Sea and air freight analyst Xeneta predicts that 2023 will be “extremely challenging” for the ocean shipping market and “turbulent” for the air shipping market. The sea freight volume will be reduced by about 2.5%.
European rail carriers will raise rates by 20-50%
According to the Wirtschaftswoche German magazine, the DB Cargo, freight transport division of German national railway operator Deutsche Bahn, began to notify its customers in mid-November of an increase in rail freight rates starting from January 1, 2023.
ESG reporting will become mandatory for a wide range of companies in the EU
The European Parliament has adopted the Corporate Sustainability Reporting Directive (CSRD), which will oblige a wider range of EU companies to disclose data on the social and environmental impacts of their activities.
The global economy will slow down, but with a different pace
Global economic growth will continue to slow down not only this year, but also next year, according to the Organization for Economic Co-operation and Development (OECD) Economic Outlook for 2023-24.
Border Controls Between EU Countries Are Being Reintroduced
A few weeks after the extension of the current border controls on the border with Slovakia, the Austrian Federal Ministry of the Interior announced the reintroduction of controls at the border checkpoints with other countries.
Air Cargo Spot Rates Keep Falling With No Peak Season In Site
According to Xeneta, air cargo spot rates in October were on average 20% lower YoY, but so far remain twice as high as in the pre-corona crisis 2019 year.
Road Freight Transport in Europe: Multidirectional Pressure on Road Freight Rates
Road freight rates in Europe hit all-time high, but their growth slowed sharply in Q3, according to the European Road Freight Rates Benchmark Report, produced by Transport Intelligence and Upply.
The Surplus of Empty Shipping Containers Causing Container Prices Falling
The sagging demand for container shipping and the equipment turnover acceleration have resulted in the release of a significant share of the fleet and a container surplus.