News

Overall, the situation is unchanged in the sense that container carriers continue to re-route vessels utilising the extended route around the Cape of Good Hope. While a military coalition has been formed, it currently remains unclear as to when this will have an effect, allowing vessels to pass through the Red Sea safely.

Following our ocean market update published on 18 December informing of the consequences of missile attacks on vessels passing through the Red Sea, we continue to monitor the situation closely and wish to update you on the latest developments.

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.

Volatility and uncertainty are once again on the menu for shippers around the world. With the year of 2023 having marked a return to pre-pandemic schedule reliability, it is now apparent that we will enter 2024 with darker clouds on the horizon.

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

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.

At the start of this week, the local Shanghai government imposed a new lock-down and subsequently restrictions around the city of Shanghai. Inasmuch as restrictions are limited to specific areas and weekdays, we foresee a significant level of short-term disruption stemming from this situation.

Observing the special nature of this situation and after careful consideration, we have effective 4th March, decided to suspend bookings to/from Russia and Belarus temporarily.