News

Starting with the conclusion: Chaos across both the global ocean and airfreight markets with no short-term outlook for relief.

In recent weeks, a severe ocean freight capacity crunch across most major trades has sent freight rates on a skyrocketing trajectory. This rather sudden change in supply and demand has been fueled by high demand and network bottlenecks in part due to the Red Sea situation.

Starting with the conclusion, ocean freight levels are surging in a period that is usually considered a slack season, especially on the Far East Westbound trade from Asia to Europe, which is widely considered the global blockbuster trade.

With the crisis in the Red Sea having turned into a prolonged new normal, yet another stark reminder was provided on 13 April that ever-present geopolitical turmoil has a profound impact on global supply chains.

With apparent pressure on capacity ex Asia in recent weeks and this leading to significant rate level increases we have again moved towards a market development similar to pre-pandemic. Somewhat unexpectedly the peak season for volumes ex Asia has led to significant pressure on available capacity having been boosted by events such as Black Friday and Cyber Monday. Some analysts now predict that this could be sustained all the way up to Lunar New Year, 10 February 2024.

Get the latest market overview for air, ocean and rail freight.

As we enter the second half of the year, we wish to provide you with our current market outlook and not least, what to expect in the coming months.

Complicated freight market? Get the latest market overview for air, ocean and rail freight for week 52 2022.

Geopolitical impact as consequences of the war in Ukraine, COVID-19 lockdowns in the factory of the world, China, coupled with an already overheated logistics market, has sent the Western world as we know it into an unprecedented supply crisis. Below you will find our latest advisory.