In this week’s Freight Market Update, equipment shortages and port congestion in Asia are beginning to improve, though still fall short of meeting current demand. Blank sailings are expected in July and August on Far East Westbound (FEWB) trade lanes. In the Mediterranean, carrier utilization has reached 100%, driving up rates for both West and East Mediterranean routes in July. Global air cargo tonnage dropped 5% (June 17-23, 2024), but rates rose 1% to $2.54/kg—10% higher than last year, and 43% higher than pre-COVID levels. Check out the full update for more and subscribe today to stay on top of the latest news and trends from around the industry. #supplychain #logistics #freightmarket #freightindustry #oceanfreight #oceancargo #oceanshipping #airfreight #aircargo #airshipping #trucking #intermodal #railfreight
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The ocean freight container shipping market is on track to surpass the peak levels seen during the Red Sea crisis and approach volumes not seen since the COVID-19 pandemic. #FreightForwarding #Logistics #SupplyChain #Shipping #ContainerShipping #IndustryTrends #MarketUpdate
Ocean freight container shipping market set to surpass Red Sea crisis peak and hit levels not seen since Covid-19 pandemic - Container News
https://container-news.com
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Senior Business Development Manager @ Explorate | 18 years of industry experience | Solutions driven business partner
“Carriers will prioritize shippers paying the highest rates. That means cargo belonging to shippers paying lower rates on long-term contracts is at risk of being left at the port. It happened during the Covid-19 pandemic and it is happening again now." “We are also seeing freight forwarders being hit with new surcharges and being pushed onto premium services to have space guaranteed onboard ships. In such cases, they have no other option than to pass these costs on directly to their shipper customers." The carriers are just playing dirty. Clearly, nothing was learned from the last shipping "pandemic". Regulation is needed. #peakseason #shipping #congestion #redsea #APAC #shippinglines https://lnkd.in/ge9QQMEv
Ocean freight container shipping market set to surpass Red Sea crisis peak and hit levels not seen since Covid-19 pandemic - Container News
https://container-news.com
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I find innovative solutions to cut operating costs without layoffs with direct impact on the bottom line | Expense Reduction | Business Consulting and Systems | Trusted Advisor | Cost Management | Strategy |
How has your business been affected by rising costs for ocean shipments? On-time Ratings for container ships are falling from the consistent improvements seen in 2023. Ports that are experiencing particularly slow deliver times are in Europe and the East Coast of the United States from China. Short-Term Rates for Containers are also rising from Asia to both coasts of the United States. The timing is right now for an independent review of all of your freight-related costs. ✅ Best possible pricing based on globally benchmarked data ✅ Logistics modeling to establish the most cost-efficient mix of transportation ✅ Simplify complex rate structures DM me to learn more. #oceanfreight #logistics #supplychain #portcongestion #strategicplanning
Ocean rates skyrocket, reflecting cautionary market
supplychaindive.com
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https://lnkd.in/eP-QfHPd It's unfortunate for shippers that supply chain disruptions are impacting FCL rates again. Exploring ocean freight consolidation services can indeed be a strategic move for shippers to mitigate transportation costs and risk during these challenging times. For assistance on navigating the current market conditions, reach out to #jasworldwide. We can provide valuable insights and guidance tailored to your specific shipping challenges. #supplychain #oceanfreight #lcl #transportation
Container rates hit $10,000 as ocean freight inflation soars in Red Sea crisis
cnbc.com
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Don't fall into the trap of thinking that shipping rates on all routes are being impacted. The crisis in the Red Sea is affecting shipping rates, but not universally. Contact us at BPD to ensure that your rates are competitive. @samhardwick #buyfreightbetter #wedelivermore #shipping #logistics #redseacrisis #freightprocurement #optimizefreightrates #logisticsolutions
Ocean freight rates surge further as Red Sea crisis develops
supplychaindive.com
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Ocean freight container shipping spot rates are poised to surpass the levels experienced during the height of the Red Sea crisis as the latest round of increases takes effect on June 1, according to data released by Xeneta today. To Read More: https://lnkd.in/dSmnJ2bD #freight #shipping #logistics #oceanfreight #redsea #supplychain
Ocean Freight Market Rates Skyrocket on June 1 Amid Market Disruptions: Xeneta
https://www.logisticsinsider.in
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This is such an insightful piece. Emily Stausbøll has looked at some cool data, done her magic and shared it with you. Please enjoy.! The balance between capacity and demand is the at the heart of the ocean freight shipping market and nowhere is this relationship more important than on trades out of the Far East. Firstly, let’s look at capacity, and it is those trades out of the Far East into the US which have seen the biggest increase so far in 2024. In the first 10 weeks of this year, a total of 4.76m TEU of cargo carrying capacity departed the Far East bound for the US, up by 16.2% compared to the same period in 2023. Within this overall Far East to US figure, capacity is up by 17.4% on the Transpacific into the US West Coast and 14.6% to the East Coast. #supplychains #logistics #containershipping #carriers #shippers Sea-Intelligence Xeneta #freightrates #data
Strong capacity and volume growth on Far East to US trades
xeneta.com
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📈 Container Rates Surge! 🌊 The Maritime Executive reports a spike in ocean freight rates, nearing late-pandemic highs. A premium-rate Asia-Europe sailing has hit $10,000 per container. #Logistics #Shipping #SupplyChain #FreightRates #Maritime #Trade #GlobalBusiness
An unusual confluence of supply and demand is driving ocean freight rates back up towards late-pandemic highs, according to logistics insiders ... see below article.
Unforeseen Changes Send Container Rates Back to Pandemic-Era Levels
maritime-executive.com
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Air freight 'set for a turbulent summer' – but is it dependent on ocean failing? Ultimately, yes it is dependant on Ocean freight Failing. It comes as no surprise that airfreight will face a higher demand as we currently see no light at the end of the tunnel on the Red Sea Crisis & no ceiling for growing Sea freight rates, but I don't think schedule reliability is the driving factor. The shipping lines may be 'sticking to the schedules' but they are also nearly twice as long as 'normal' market conditions, leaving importers with very little room for error in supply chain planning with the added bonus of paying 5x higher prices than pre the Red Sea Crisis. The cost gap for #Airfreight vs #Seafreight is shrinking week on week, on top of the little margin for error via ocean freight. The time benefit is also Astronomical with the current sea freight scheduling, taking Asia>Europe for example. These factors mean the decision to switch transport method is so much more appealing & is ultimately an easier/quicker decision to make when Sea freight options can't match the lead time required. Get in touch to discuss how to manage your supply chain⬇️ 📩[email protected] 📲07450 140281
Air freight 'set for a turbulent summer' – but is it dependent on ocean failing? - The Loadstar
https://theloadstar.com
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This article helps highlight some of the growing concerns centered around the Transpacific Eastbound Ocean freight market. When disruptors hit - you'll want to make sure you have additional modes of service to rely on. Additional modes of services are not just limited to air freight. CH Robinson offers; Sea to air conversions, LCL, Expedited LCL and air freight solutions tailored to our customer's needs. Check in with your local CH Robinson representative to review your current supply chain structure and how we can create real time solutions to keep you follow of cargo moving.
Worsening box line disruption to have limited air cargo impact - Air Cargo News
https://www.aircargonews.net
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CEO at Demotrans - Bangladesh & Cambodia
1moIt sounds like the freight market is playing a game of musical containers" with all those blank sailings and equipment shortages! 🚢🎶 At least the Mediterranean routes are fully booked—guess everyone's dreaming of a Mediterranean summer! ☀️🏖️ Thanks for the update, always good to stay ahead of the cargo curve! 📦📈 #FreightMarketFun #Demotrans