Trends to Watch
- [Ocean-All Lanes] Environmental regulation compliance resulting from IMO 2023 has led to vessels not returning to pre-Covid speeds, effectively removing ~8% capacity from the market.
- [Ocean-TAWB] Recommend booking two or more weeks prior to Cargo Ready Date (CRD) to secure space and minimize CRD changes as much as possible. Alternatively, leverage premium products to guarantee equipment and loading for your most time sensitive cargo.
- [Air-Correction] We previously reported that runway work was being conducted at Beijing Airport, which was incorrect. The maintenance work is happening at Shanghai Pudong Int’l Airport. Estimated impact (per Shanghai Airport): ~10% capacity on PVG-US, and ~25-30% capacity on PVG – EU, and work will be ongoing through June.
- [Air-Asia > N. America] Carriers are NOT sharing significantly reduced fixed rates, in order to not engage their capacity at the lowest of the market. Expect rates to stay around the same level as at the end of March.
- [Air-Transatlantic] Passenger traffic is beginning to pick up and flight frequencies will continue to increase on Trans-Atlantic routes. The summer schedule of major European and US airlines is already significantly higher from mid-April onwards.
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