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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 pre- pandemic levels and yet more blanked sailings are announced.
Many airfreight trade-lanes are seeing yields below 2019 levels, with high levels of transatlantic belly-hold capacity and parts of South-east Asia seeing passenger services increase substantially, while China and Hong Kong PAX services are growing more slowly.
Hauliers must recalibrate their route networks, to alleviate the strain on Europe’s beleaguered road transport sector, caused by the ever-worsening driver shortage and while freight rates are expected to continue to soften over the year, they are likely to remain elevated, in part due to the shortage of drivers.
See our latest reports, reviews and insights across road, sea and air modes.
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