A year ago, shippers were in scrums to find cargo space on airlines. The market has softened considerably and 2023 could see more declines before things get better.
Trans-Pacific spot rates fell first. Trans-Atlantic spot rates and Asia-U.S. contract rates look like they’re next in line.
Freight management companies are not making long-term shipping commitments with airlines to avoid getting stuck with unneeded bookings.
Spot shipping rates continue their historic slide, putting even more pressure on container lines’ contract business.
Ocean carriers have been shielded by lucrative annual contracts with cargo shippers, but contract coverage is starting to crumble.
Good news for shippers is bad news for airlines as cargo demand and rates retreat again in October.
“This new funding will help us accelerate development of our platform and add even more data sets to enrich our expert industry analyses to further drive transparency in the market,” says Xeneta co-founder and CEO Patrik Berglund.
The airfreight sector remains chaotic, but a better-than-expected August is spurring optimism for solid results during the busy shipping season.
Container shipping rates remain far above pre-COVID levels, yet there are more signs of prices easing.
The air cargo market continues to lose altitude in the face of an overall economic slowdown and supply chain dislocations. Whether swiftly changing conditions enable airlines’ cargo business to swing […]
