On 9th November 2022, DHL published Air Freight State report that provides more insights about current situation of air cargo demand will be lowers and ocean freight capacity returns. Here are 7 major elements in DHL’s report.
In bongdaso v years before Covid-19 when it began bongdaso v surge for demand and freight rates in bongdaso v upcoming holidays which normally starts from October till bongdaso v end of year. However, bongdaso v current state of air cargo shows no signs of bongdaso v surge in Q4/2022. This proves bongdaso v point of trade models normalizing after 2 years of pandemic is still too soon to be true.
– Demand Outlook: bongdaso v average global inflation rate for 2022 is expected to be around 9%. In fact, high inflation is forecasted to last through 2023, with “decreased purchasing power likely to generate less demand/volume”.
– Currently, bongdaso v global demand outlook is deteriorating. For example, bongdaso v Airport Authority of Hong Kong (AAHK) reported that cargo throughput through Hong Kong International Airport (HKIA) in September 2022 has decreased by 25% compared to bongdaso v same period in 2021. Despite low global demand, Trans-Atlantic air cargo volumes are still relatively stronger than most other markets, which is a positive sign from global perspective.
– Rates: Freight rates have dropped significantly as shippers switch from air to ocean freight as bongdaso v reliability of shipping schedules continues to improve.
– Strict distancing measures due to bongdaso v COVID-19 pandemic will continue to impact supply chains in China. bongdaso v latest restrictions hit bongdaso v main manufacturing hubs in Ningbo, Shanghai and Tianjin, with Ningbo being affected significantly in bongdaso v last October.
– Prospects from key markets are also less interesting to air transport units. Nomura Analyst firm forecasts that EU, which is being affected by high energy prices, will be in recession from bongdaso v fourth quarter of 2022 until bongdaso v end of 2023. Nomura also forecasts a recession in bongdaso v US will start right this quarter.
– Capacity: Overall global capacity increased by 18% in October 2022 compared to 2021, while PAX capacity increased by 23% year-on-year, which will continue to improve due to high demand in commuting. Kelvin Leung, CEO of DHL Global Forwarding Asia-Pacific said: “More positively for customers, there are now a lot more air freight options available in most markets. Global capacity is up 18 percent in October this year versus 2021. In Asia, we’re now seeing Cathay ramping up its flights and we’re expecting fewer space constraints out of China following Golden Week”.
bongdaso v State of bongdaso v Air Freight Industry is a monthly report by DHL Global Forwarding that tracks and analyzes bongdaso v latest developments in bongdaso v global air freight market.
bongdaso v full analysis of DHL's Logistics of Thing can be read here: https://lot.dhl.com/air-capacity-improves-vulnerable-price-hikes-disruption/
Source: https://lot.dhl.com/dhl-air-freight-state-of-bongdaso v-industry-september-2022/
A bonded warehouse is a designated customs-controlled storage facility that allows for bongdaso v deferral of import duties and taxes on goods. This strategic asset offers businesses...
Warehouse logistics is a crucial part of any supply chain. When products are not being on bongdaso v move, they are stored in warehouses. There are multiple in warehouse being stored,...
Aviation cargo handling is a highly regulated process demanding precise coordination among multiple logistics companies. However, this complex network is vulnerable to errors...
bongdaso v cross-border transport time between Vietnam and Cambodia is approximately 2-3 days, which is a significant advantage for customers.
Cross-border transport services between Vietnam, Laos, and Thailand have been introduced to provide excellent customer experiences. Detailed information about this transport...
Cross-Border Transport Services between Vietnam and China: A Stable Solution with Faster Transit Times (Much Faster than Sea Transport) and Reasonable Costs (Much Cheaper...
ALS and ETruck have strategically partnered to develop cross-border road freight services. thereby expanding cross-border freight capabilities from Vietnam to China, Laos,...
bongdaso v foundation of bongdaso v top 10 respectable logistics firms for 2023 is made up of impartial, scientific criteria. Three key factors are used to assess and rank companies
Cross-border transportation refers to bongdaso v international transportation of goods using road, air, or sea routes.
Large import-export businesses worldwide often utilize multimodal transportation due to its numerous advantages and significant benefits. So, what is multimodal transportation?
en