We are in a new world of shipping. There have been spikes in demand and freight rates before, but never for such a long time and never on such a continuously upward trajectory. The challenges we face are unique. Even with demand levels increasing on the most popular trades, equipment availability continues to be an …
The record-breaking sea freight rates, driven by restricted volumes, equipment availability and service disruption is pushing increasing quantities of ‘distressed’ ocean cargo to air freight solutions. Metro have advised and updated regularly on the dynamic air freight market, which has restricted lifting capacity through the grounding of passenger aircraft and increased costs as carriers rely …
Containers continue to be in short supply – particularly in the places where they’re needed most – with wait times varying region to region, country to country and port to port. And even the world’s biggest shipping lines are not sure when their containers will be available, or where. Despite relationships going back decades, long-standing …
The early start of the sea freight peak season and its likely extension through 2021 and possibly up to the Lunar New Year in 2022 means the chance of current market rates softening significantly are slender, particularly as disruption in any region creates more congestion and delays, pressuring prices as shippers try to secure scarcer slots. If they have the …
Demand for imports from Asia and the Indian subcontinent (ISC) continues to outstrip shipping line capacity, in a sign that with inventories low, second-half volumes are unlikely to let up, keeping pressure on a global supply chain infrastructure that is already buckling. The UK’s primary container ports will be expecting a spike in imports from …
Vessel schedule reliability continues to struggle, falling to 38.8% in May, with the lines blaming congestion for the average 5.86 day delay of late vessels The latest schedule reliability statistics continue to reflect an ocean freight infrastructure that has struggled under the weight of increased demand and tight capacity for almost a year. Not only …
Economists are convinced that global sea freight demand will continue to outstrip container shipping capacity for the rest of this year and into next year, which is good news for the shipping lines’ bottom line, but not so much for shippers, who continue to pay premiums in order to get their product moved. Consumer and …
The Federation of Indian Export Organisations (FIEO), the official body responsible for representing and assisting Indian exporters, has submitted a formal request to the Indian government to invest in developing its own shipping line, in response to ‘exorbitant’ freight rates. As we have updated you weekly, the cost of freight by all modes and on …
Sea freight spot rates have surged further on the trans-Atlantic trade and routes ex-Asia, as a month of port restrictions, congestion and disruption across south China ports diminishes container shipping’s already severe global capacity and equipment shortages. Shortages of space and equipment continue, as market demand exceeds supply and rates keep climbing, with blank sailings in June …
The new containership order-book has been in decline since 2008 but, driven by new carrier confidence, activity increased significantly in the fourth quarter of 2020, with a further surge of nearly two million teu of orders in early 2021, meaning that new ships on order equal 18% of the total global fleet – a five year high that is close …