Freight market report; May 2023

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 large increases in most regions and trade-lanes, taking rates down from their record 2021 levels, but still remain far above pre- pandemic 2019 levels.

Road and rail operations across Europe continue to be affected by industrial action in multiple countries, with train drivers in the UK striking on the 12th, 13th, and 31st May and 3rd June, causing disruption to passenger and freight transport.

See our latest reports, reviews and insights across road, sea and air modes.

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