Record volumes raise concerns for peak season
Global demand for ocean freight container shipping has surged to unprecedented levels, surpassing even the peak during the Covid pandemic and comes when available capacity is already strained due to diversions around Africa, leading to concerns that any peak season demand could be calamitous.
...
Read more
Air Cargo Demand Grows Strongly in Q2 2024 – and will continue for the rest of the year
Robust growth in global air cargo markets for April 2024 marks a strong start to the second quarter, with airfreight rates on key trades out of Asia remaining “firm” in June, despite the market entering the traditional quieter summer period or ‘slack season’. Quite simply there isn’t on...
Read more
Sea freight rates from Asia continue to spike and remain on an upward trajectory
Between the start of April and last week, average spot rates from the Far East into North Europe increased by 31%, the US West Coast 30%, Mediterranean 25% and US East Coast 22%, with spot rates to Europe currently $6,000-$7,500 and analysts suggesting they may hit $10,000.
Market demand reach...
Read more
Global port congestion threat to capacity
The Red Sea crisis and the much longer sailing distances triggered by the diversion around Africa’s Cape of Good Hope (COGH) soaked up existing market overcapacity, which was just enough to cope with the extended COGH transit times, provided there were no additional disruptions to maritime supp...
Read more
Airfreight market continues to fly – for now
The surge in Asia to Europe ocean freight (see ‘Ex-Asia spot rate spiral turned into shooting star’) is also boosting demand for airfreight to Europe and even to North and South America.
Uncertainty and delays with ocean shipments have been encouraging more shippers to transfer to airfreig...
Read more
State of the air freight market
The effective closure of the Red Sea and the Suez Canal to container ships is adding around two weeks to supply chain transit times and creating a backlog of manufacturing components, late shipments and inventory replenishment, with critical consignments reliant on air solutions. While Iran's att...
Read more
Strengthening global partnerships: India
Metro’s main board recently completed a multi-city tour across India, as part of a strategy to fortify existing partnerships with key suppliers and to carve out new avenues for growth, by direct engagement with prospective customers.
The visit spanned several major cities including Mumbai an...
Read more
Air freight’s promising 2024 start continues
The global air freight market’s positive start continued last month with significant growth in demand and a corresponding rise in global spot rates, especially from the Indian Subcontinent, which is out of step with traditional market trends.
Traditionally, air cargo demand and spot rates te...
Read more
Sea/Air growth undiminished
The latest air cargo data is showing a clear upswing in volumes at key sea/air hubs, as shippers from Asia seek to avoid the extended ocean freight transit that has resulted from the Red Sea shipping crisis.
Over the first two months of the year, volumes to Europe from Dubai, Colombo and Bangk...
Read more
Red Sea impact on time-critical modes
Shippers’ concerns about Red Sea supply chain delays, plus an early Lunar New Year, pushed up air cargo volumes by 10% in January, but the availability of capacity has kept a lid on spot rates on most routes.
While there has been no definitive immediate increase in air cargo demand due to th...
Read more
Red Sea Crisis insurance withdrawals – fact or fiction?
In addition to fast-rising ocean freight rates and extended transit times, as the container shipping lines divert around Africa, shippers have been struggling to understand what (if any) insurance is in place, with insurance companies massively increasing war risk premiums and no longer willing t...
Read more
Red Sea Crisis; Situation Report, Wednesday 17th Jan
Despite coalition military action, Houthi rebels continue to attack commercial shipping and with container shipping line’ schedules showing Cape of Good Hope routing for vessels into early February and beyond, it is clear that they do not expect short-term access through the Suez Canal and Red ...
Read more