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Despite assumptions that OCEAN Alliance members might decide their current setup is not fit for purpose and split to form a new partnership, they took the market by surprise by extending operational cooperation for at least another five years. CMA CGM,
The current Red Sea instability has shifted the market balance – albeit temporarily – in the carriers’ favour, but it also raises questions about the binary balance of power between carriers and shippers. This disruption is different from those preceding it,
The early Chinese New Year and shipper concerns about Red Sea supply chain delays contributed to a 10% increase in air cargo volumes last month, putting pressure on rates on many routes, including from the Indian Subcontinent and South East
The European Union’s surprise decision to end container shipping lines’ exemption from competition law next April and imposing carbon taxes on them from January, mean the lines already have a challenging 2024. Recent air freight rate increases may suggest a
Carriers have already been announcing additional blanked sailings in the weeks after the Golden Week holiday, suggesting that demand is expected to decrease in the weeks that would typically be in the Asia to Europe peak season. The latest Drewry
While much has been made of the impact of the peak season from Asia on sea freight rates, arguably the line’s capacity management is a bigger driver, with rising rates to the US and attempts to recover revenue from Asia
The Financial Times reported last week that post-Brexit UK border food checks, that were due to commence at the end of February, have been delayed again due to cost and inflation fears. Delayed since 2021, when the EU imposed their own
The UK has reached agreement on joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) Pacific trade bloc, as the government pursue new commercial opportunities around the world post-Brexit. Subject to ratification, the UK has completed the first part of
With 4.9 million TEU in new-build vessel capacity due to be delivered from 2023 to 2024 and Europe’s GDP slowing to 0.7%, constraining consumer demand, capacity will be top of mind for the global shipping lines, as rates sink to
Vessel capacity utilisation remained high from Asia, primarily due to blank sailings and a slight recovery in cargo volumes, but utilisation levels declined early May due largely to China’s Golden Week holidays. Global air freight capacity was 15% last month, with
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