A. Spot rates are set to exceed levels last seen during the Red Sea crisis, driven by rapid and dramatic increases in May. Xeneta's latest data reveals that spot rates will reach unprecedented highs on June 1. Rates on other major routes, including the US East Coast, North Europe, and the Mediterranean, are also surging. Contributing factors include ongoing conflict in the Red Sea, port congestion, and early peak season shipping. Despite the spike, some market experts see signs of potential easing. (Source: Xeneta)
B. Congestion Hits Asia-Europe Shipping Routes. Despite improvements in Singapore, Port Klang and Tanjung Pelepas in Malaysia are grappling with significant disruptions. Although Singapore has temporarily reopened the Keppel Terminal to alleviate congestion, challenges persist. Liner operators foresee ongoing congestion and elevated freight rates into Q3, as liner capacity remains high and June forecasts show reduced capacity due to forced blankings. (Source: Theloadstar)
C. Global supply chains are facing potential disruptions and increased costs following US President Joe Biden's announcement of new tariffs on Chinese imports, effective between 2024 and 2026. The tariffs will target a wide range of products, including semiconductors, batteries, EVs, and solar cells. Peter Sand, Chief Analyst at Xeneta, warned that these tariffs could mirror the 2018 tariff war under President Trump, which saw ocean freight rates from China to the US West Coast soar by over 160%. (Source: Containernews)
A. China’s air cargo market with Latin America is rapidly expanding, with air cargo spot rates from China to Latin America more than doubling from May 2019 to May 2024. This surge is driven by the rise of e-commerce and high-tech goods, alongside China's supportive policies. However, supply struggles to keep pace due to vast distances and route complexities, potentially leading to constrained capacity during peak season. (Source：Xeneta)
B. The global air cargo market is poised for double-digit growth in 2024 following a 12% year-on-year increase in demand in May, according to Xeneta's latest analysis. This surge defies earlier conservative forecasts and marks the sixth consecutive month of significant regional demand increases. Despite mixed regional performances, positive indicators suggest a promising outlook for the second half of 2024. (Source：Cargotrends)
C. Analysts predict a tight peak season, with significant congestion at major transit hubs like Hong Kong and Singapore. E-commerce growth and geopolitical factors are reshaping the market, leading to elevated freight rates and logistical complexities. As demand increases, companies with digital capabilities are better positioned to handle the evolving landscape. (Source：Stattimes）
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