16 June 2023
DHL Market Update
Air Freight State of the Industry
May 2023
Global Air Freight volumes increased in month-on-month comparison. However, the Purchasing Manager Index (PMI) remains low, as continued inflation reduces consumer purchasing power. Nevertheless, signs of resilience may be found in the second half of the year as the global economy starts to recover.
In a Nutshell
- DEMAND – Volumes remain low. The Global PMI also remains low.
- CAPACITY – Capacity remains sufficient. Global capacity increased by 14% compared to last year and passenger travel continues to increase.
- RATES – Market remains competitive. Slight increases on specific tradelanes and expected long-term rate stability towards the second half of 2023.
- FUEL – Jet fuel prices stay at a relatively high level.
Click here to read Air Freight State of the Industry update (May 2023)
Ocean Freight Market Update
June 2023
An Alphaliner study reveals that the nine carriers forming the three major alliances operate only 40% of their capacity under alliance services.
A mere 16 months after overtaking Maersk to become the world’s largest container line in terms of slot capacity, MSC has reached new heights as its vessel fleet has now been pushed past the 5 Million TEU mark by the delivery of the MSC GEMMA (24,116 TEU) on 22 May. Notably, MSC operates 75% of its capacity independently of the 2M alliance. The end of the 2M alliance in 2025 will impact these ratios further
In a Nutshell
- DEMAND – Demand in the service sector remains resilient. At the same time manufacturing seems to be stagnating.
- CAPACITY – Capacity remains stable, due to slow steaming. Even though new Megamax vessels are added to certain loops.
- CARRIERS – Carriers experienced significant drop in average operating margin. Falling from 33.3% in Q4 ’22 to 13.1% in Q1 ’23.
- RATES – Overall stable rate situation. Despite GRIs (General Rate Increases) being announced on selected trades.
Click here to read Ocean Freight Market update (June 2023)
You are welcome to contact Karl McCombe, Business Development Executive for DHL Global Forwarding (NZ) Ltd about your specific requirements by emailing karl.mccombe@dhl.com or phoning 029 940 4001.