Strikes at UK ports and airports – impacting cargo movements. On 15 March through 16 March (7 am), goods entering the UK will be impacted by a Civil Service Industrial Action by the Border control authorities. All international maritime and air arrivals will face disruption and longer queues. Be prepared and plan to avoid this, while noting the impact is likely felt beyond the specific time of strike. This comes less than 1 months after the latest port strike that impacted ocean freight entering the UK.
Market Analysis
Market Observations | March 3, 2023
iXRT Market News: Week of Feb. 28th
All eyes are on Long Beach this week for TPM, taking place in a much changed market from this time last year. Shippers moving goods from the Far East to Long Beach then were paying an average of USD 9 800 per FEU on the spot market, excluding premium surcharges, with those on the higher end touching USD 16 400. At the opening of this year’s TPM the average spot rate has fallen to under USD 1 500 per FEU. Even those shippers contracting at the highest spot rates are looking at rates of under USD 3 500 per FEU. Continue Reading
Xeneta Customer Sentiment | March 9, 2023
Xeneta Customers Say: 71% of Customers Have Returned to Annual Contracts
A week has passed since TPM. It was one of the largest TPM conferences to date, which gave us the opportunity to meet many industry friendlies, but most importantly our customers. With the market slapping us with continuous decline, shippers were for sure steering that show. Just before TPM, our CEO and Co-Founder Patrik Berglund and Michael Braun, VP, Customer Success & Solutions sat down to discuss the container shipping market conditions with the Xeneta customer community in the February Ocean Freight Market Pulse webinar. The big focus was on long-term contracts and index-linked contracts. The buzz at TPM echoed the same. Let's dive in. Continue Reading
Xeneta Container Freight Update | March 15, 2023
Shippers Still Struggle With Poor Schedule Reliability Across All Major Trades
According to the latest data on schedule reliability, one in two ships is still arriving late. In January, 52% of ships arrived on time, which is slightly down from the 56% achieved in late 2022. Also, the average delay for ships arriving late remains stubbornly elevated, which is still above five days. Read the Full Update
Xeneta Air Freight Update | March 13, 2023
Northeast Asia-Europe General Air Rates See a Slump with Special Cargo Boasting Strong Demand
If we dive into the regional trades, for the week ending on the 5th of March, airlines’ average spot rate from mainland China to Europe stood at USD 3.73 per kg. This is a decline of 41% from the same week last year but remained 86% higher than pre-pandemic rates. This is attributed to the slow recovery of passenger belly capacity on this route and increased operating costs as western airlines have needed to reroute flights due to Russian airspace closures. Read the Full Update
Webinar / Events
Customer Ocean Webinar | March 29, 2023
March '23 Freight Market Pulse
In this month’s Customer Webinar, CEO and Co-Founder, Patrik Berglund and Vice President of Customer Solutions, Michael Braun will give updates on critical market movements and speak to Kingfisher's procurement strategy, seeing how they have approached their carrier relationship differently than most, yet still maximized value from carriers, with the use of Xeneta data. Register now
