With the holiday season kicking off, import volumes are high as retailers restock inventory in anticipation of seasonal surges. <> Despite there being 20% more capacity available now compared to last year, many anticipate that high demand will mean additional price hikes in November. This is likely because importers must split shipments in order to stay under the required SKU limitation imposed by Amazon FBA. Watch the video. June 30, 2020: Long-term contracted ocean freights fell for the second consecutive month, and are now 1.3 percent down year-on-year, as the ramifications of coronavirus continue to shake the foundations of the global economy.

Ocean rates from China to the US have plateaued since reaching record-breaking highs in September. , and employment have been climbing since summer, especially out of West Coast ports.

Rates on the Far East corridors provided the one relative bright spot, with the import figure climbing by 1 percent. The US indices suffered sharper falls, with imports dropping by 4.6 percent while exports declined 3.5 percent across June. Ocean Freight Market Update Air Freight Market Update. Freight forwarders are trying their best to move goods on schedule without additional fees, but in this unstable period, delays and additional charges can occur out of forwarders’ control. ... Freight Market Update. Finally, the race for a vaccine is also heating up and its global rollout will be the next major challenge to supply chain stability. Amazon Prime Day kicked off the eCommerce peak season last month, with a 60% annual increase in sales by third party sellers on its marketplace.

. The rapid growth of eCommerce combined with peak shipping season are contributing to record freight rates that aren’t expected to drop before the end of the year. %PDF-1.4 This month, we saw the first signs of IMO 2020 fees hitting the spot market, with almost all carriers applying some level of cost increase starting December 1. 1 0 obj Although levels remain historically high, the carrier segment has now seen a 0.2 percent decline since the beginning of 2020, after four consecutive months of increases through to February.

Despite potential delays and high freight shipping costs, there are a few steps importers can take right now: How to navigate the current freight market: How small or midsize importers can plan for operational success on Freightos.com: As always, we at Freightos.com are here to help. to get goods moving as quickly as possible. Despite there being, With high volumes of inventory heading to holiday shoppers and concerns that last-mile capacity will be very limited, others are warning of an impending, Ocean rates have stayed level, but air cargo rates out of China have started to climb. Blank sailings are on the rise in Q2 2020 due to the global impacts of COVID-19. What can drones and UAVs do during a pandemic like Covid-19?

:�K�#?v/�����5����_�F��ſ���o����)���������G;���L��v&I;;;��q�C����?J݅$y��\"y�y��{l�$�l����E>�������_����}����k����k5W�BO��$ig�$g�|`O��{�ۿs��M}����]w�~�'�: to mitigate the effects of lowered demand and business restrictions in the US. x��Ln�~�I"W���Q���xߌ̔T�`�u��I�%74�Htp�b��IJ�x�^j��Է������\bi%}SOn� F��Tj��*5����g�i��� �����l�����'{���Z���~�������,˲,��7���#��{����5�}�[���}�������.����E�$s���tvvvvvvvvv���&I;;;;;;;;�[8������������I����������v�$iggggggggw;g������������3I6���������Z�Ǟ}���;�=߫����w�gv��%;;;�f�x���*�G���'��N;���L��v�����5�?��?{������P�_? Ocean freight rates fall by 1.8% in June: Xeneta By Our Correspondent June 30, 2020: Long-term contracted ocean freights fell for the second consecutive month, and are now 1.3 percent down year-on-year, as the ramifications of coronavirus continue to shake the foundations of the global economy. We use cookies (yum) to deliver personalized services. IMO 2020. For Europe the import benchmark fell 1.9 percent, the fourth consecutive month of decline, while the export figure fared slightly better, slipping just 0.3 percent in value. 5 0 obj It was adjusted down from the 3 percent annual fall predicted in April to a staggering 4.9 percent contraction for 2020 – the greatest drop since the end of the Second World War. Additionally, remember to factor in freight costs when assessing profitability. May 27, 2020. by ... Freight Market Bulletin - June 1, 2020. %���� And many of the major consumer economies will bleed even more profusely, with the Eurozone block facing a hit of over 10 percent.

Xeneta CEO Patrik Berglund says June’s report probably won’t assuage concerns in an increasingly uneasy carrier fraternity. Space and equipment are tight. of your goods and consider if a pivot could be worthwhile. Ocean Freight Rates Update.

Read up on how Amazon sellers can deal with rapidly-changing consumer demands as well as inventory challenges. Xeneta’s XSI provides unique intelligence on the very latest ocean freight market moves. With the exception of a few weeks, spot freight rates have been lower than fix rates since the new contract season started back in April-May. With.

Home > Resources > Freight Updates > How Coronavirus is Impacting Shipping: Air Cargo, Ocean Freight, Trucking, and More. ����/�˹���_����_����G�Yђ]��_�'D��c[�6�4N����^� ��"����������������z�U�KB�{��B9����~rJ�������6���kggg��]�$��g�&A�H��'�#=mx0�x��GyB��"��3�����6�؂I���p&�v5I2qx����Jw�/N�U������J��[��c�L��g�� �$Y�gg�V�|ECk�G#*��������l;;;�z.�. , which we are providing for free for the rest of 2020 to help you stay on top of freight rates. endobj Global Ocean freight and Air freight Market Growth Analysis, Forecasts to 2025 – DHL Group, DB Schenker Logistics, GEODIS, Nippon Express, Damco, KWE richard October 29, 2020 Ocean freight and Air freight Industry Global, Regional and Country Overview – Segment Analysis, Industry Overview, Forecast and Current Industry Trends, Market News, and Major Stakeholders The Coronavirus (COVID … for changes. We'll never spam you and you can always easily unsubscribe. Rates have held fairly firm so far, but it remains to be seen how effectively the carriers can fight against such overwhelming odds, and for how long. Managing the freight risks of exporting to emerging markets. Us too. With capacity 20% lower than last year, rates have increased to as much as 45% in the last two weeks as shippers compete for holiday shipping space. <>

Ocean rates have stayed level, but air cargo rates out of China have started to climb. As a result, high-sulfur fuel oil will drop in price as demand drops dramatically after January 1st.

The next few months will be crucial, and market intelligence such as XSI will be key to following developments and unlocking value from upcoming contract negotiations. Amazon Prime Day kicked off the eCommerce peak season last month, with a, 60% annual increase in sales by third party sellers. Continue reading. Francisco Serra-Martins, Interim CEO, Dove Air @ Cargo Drone Virtual Summit, Panel discussion on Day 2 of Cargo Drone Virtual Summit, Ansgar Kadura, Chief Services Officer, Wingcopter @ Cargo Drones Virtual Summit, Presentations by drone innovators during Cargo Drone Virtual Summit - Africa edition, Halit Tuncer, Cargo Director South Asia of Turkish Airlines in CONVERSATIONS, Drones for improving healthcare supply chains and creating drone corridors for Africa, Kenyan cut flower industry waits for the return of passenger aircraft bellies to bloom again, Guillaume Halleux, Chief Officer Cargo, Qatar Airways, Flying cargo and touching lives – air cargo’s critical role in Africa amid Covid-19 pandemic, Nabil Sultan, Emirates Divisional Senior Vice President, Cargo, in CONVERSATIONS. Both long-term contracted rate benchmarks have now moved downwards over the course of 2020, with imports falling by 2.9 percent (although remaining high against historic levels) while exports are down 3.3 percent since the end of 2019. By using this site, you agree to the use of cookies. Last year around this time, ocean freight rates from China were around $1,000 higher than current levels. The main impact will come from the implementation of IMO 2020 regulations. Drop your email to get our logistics tech update list. There has been a reduction in shipments to FBA warehouses. <> stream This is more important than ever – staying in touch means you’ll have a better handle on your transit time and stay on top of any changes that may arise. Get the latest ocean freight market updates & list of blank sailings here. Trucking volumes, rates, and employment have been climbing since summer, especially out of West Coast ports. Based on crowd-sourced data from leading shippers, the report utilises over 200 million data points, covering more than 160,000 port-to-port pairings, to provide real-time insight of industry developments. “Container ship owners and operators have been working overtime for months to balance supply and demand, removing tonnage, adjusting routes and constantly reviewing strategy to protect their all-important rates,” he notes, adding, “And, to their credit, it’s worked very well in these tumultuous times. With the current shipping climate, booking too far in advance may mean rates change before your goods are ready.

Global Freight Forwarding 2020 provides a detailed, up to date look at the impact of COVID-19 on the market and other major trends and drivers affecting the market in 2020 and beyond.
IMO 2020 Impact on the Freight Market . Peak Season 2020 has many importers wondering how to prepare for unpredictable conditions. With the introduction of the low-sulphur regulation (IMO 2020), there is an increased cost. By using our site, you acknowledge that you have read and understand our, AFRICA CEO FORUM, Okan publish report on transforming ports, Hamburg and Tanger Med Port Authority sign LoI for partnership, Congo Terminal takes delivery of two new RTGs, South Africa Revenue Service announces new trade facilitation measures, CMA CGM, MSC complete integration onto TradeLens. Copyright 2011-2020 Freightos (Tradeos, Ltd) |, Privacy Policy | Master Services Agreement | Copyright & IP Policy, How Coronavirus is Impacting Shipping: Air Cargo, Ocean Freight, Trucking, and More, Ocean rates from China to the US have plateaued since reaching record-breaking highs in September. to make sure you are getting the best cost and most efficient service possible. Port. Origin China/Hong Kong Americas Europe ... GRIS announced for June 1 and June 15, but market weakness means they may be waived or reduced. More than 14,000 trucking jobs have been added over the last two months, and with Peak Season at hand, parcel carriers will add thousands of seasonal workers to manage logistics services. Prices are expected to keep climbing as demand for new consumer tech and holiday season products pick up steam. However, signs of a US recession, the pandemic’s growing second wave, and lack of additional government stimulus could mean that current boom won’t continue for much longer. Costs due to unforeseen delays or limited capacity can arise, so be prepared.
Furthermore, notes Xeneta, future economic indicators are far from promising.

Please reach out if you have any questions or concerns.

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