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The traditional ex-Asia space and volume crunch around Chinese New Year was extremely muted for both air and sea modes, with shipping lines cancelling 14% of all ex-Asia sailings, while airlines are adding passenger services as China reopens.
The continued fall in global container freight rates that began last year, abated somewhat in January on major routes, with capacity deployed on the two largest east west trades falling from 43.7% to 39.8% year on year.
Air freight volumes have been trending down since the first half of 2022, but the first half of 2023 continues to look bleak for air freight, while operating costs in road freight remain on the rise for 2023.
See our latest reports, reviews and insights across road, sea and air modes.
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