Container shipping company Maersk recently released the latest market information of logistics supply chain in the Asia-Pacific region (October 2022) (hereinafter referred to as market information), which shows that although port congestion in Asia, North America and Europe is gradually improving, the outlook for cargo volume is still bleak. The shift in international market demand from the previous surge to the current downturn requires companies to further adjust their procurement plans and carriers to adjust their operating networks, and these uncertainties will also affect the supply chain in the coming months.
Inflation and rising energy costs remain major concerns for customers and have led to sluggish demand in the export market, according to the head of shipping management in the Asia-Pacific region of Malaysia. Combined with lower sales and shorter shipping cycles (due to reduced terminal congestion), warehouse inventory levels in the US and Europe remain high. Inventory levels are expected to stabilize in the fourth quarter and customer demand will continue to return to normal.
In October, the market demand for LCL cargo in long-distance trade such as Europe and Trans-Pacific showed a downward trend, while the market demand for intra-Asian routes was relatively stable compared with September. Affected by weak demand, carriers have taken measures to empty flights and integrate some routes, but they can still ensure the rate and stability of flights. Maersk has added a number of new routes and displayed them on relevant websites so that enterprises can quickly check the freight rates of all routes and book cabins.
In terms of air transport, according to market information, the rate of air freight from China to the United States dropped to $6.58 per kilogram in October, down 39% compared with the same period last year. The air freight market is facing an uncertain outlook due to flat export demand. In October, Australian air freight rates showed signs of decline, while transport time was improving, and cargo demand and capacity supply remained largely balanced.For other destinations, freight rates on Indonesia-Australia routes will be reduced after Australian Airlines increased flights to Sydney and Melbourne. In Bangladesh, freight rates for goods over 500 kg have been reduced, while rates for goods under 500 kg have increased slightly. In India, while all other airports remain unchanged, Channel is offering lower rates.
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