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Carriers adopt slow steaming to manage tonnage; cost of moving empty containers, especially to Asia, remains significant

Routes from the Far East, the busiest globally, experienced a significant 75% YoY contract value reduction

GRIs from carriers appear to have held relatively firm, pushing spot rates up above long-term rates on key corridors

Last month saw a 7% YoY capacity recovery as airlines’ summer schedules stepped up to meet heightened passenger traffic.

Port of Los Angeles moved 833,035 TEUs in June, its best performance since last July

Shippers are the dominant players in the market right now, as freight forwarders and airlines are nervous of missing/losing the volumes that are...

While 13% are negotiating for 3-6 months, 10% are continuing to use only the spot market

XSI for U.S. exports hits an all-time high in February, zooming 16.5% to 179 points

Best performing carrier was HMM, scoring 27% better than the trade lane average

January 2023 imports declined 13% to 372,040 TEUs at Port of Los Angeles, down 32% to 263,394 TEUs at Port of Long Beach

"With little sign of change ahead, this will be a challenging year for the carriers."

After controlling 35% capacity, the 2M alliance partners will now fight for market share and the same set of customers