3rd March 2022, Bath, UK: Ti Insight has published its Ocean Freight Rate Tracker for Q1 2022, analysing the market’s evolution using a range of industry data sources as well as its own exclusive survey. After a traumatic year for the industry in 2021, its authors call the market ‘dysfunctional’ and claim that it will stay that way well into the year.
The results of Ti’s survey reveal that industry professionals expect an increase in rates over the coming months. Over 60% of respondents replied that they expected prices to ‘increase significantly’ on all three major lanes – Asia-North America; Asia-Europe and Europe-US. Since November 2021, participants have been most anxious about price increases on routes from Asia to the US West Coast although there is slightly more optimism about transatlantic rates.
The free-to-download Tracker also includes a review of other industry data. Some of the headline figures include:
While the direct risks of further pandemic-related disruptions appear to be receding in Europe and North America, global vaccine rollouts and the lifting of social and economic restrictions remain uneven. Significantly, Covid-related restrictions cause regular disruptions at Chinese ports and in hinterland operations in Shanghai, Ningbo, Xiamen and Tianjin. Within an already stretched global system, dysfunction looks set to remain the defining characteristic of the global ocean freight market well into the year.
ABOUT THE OCEAN FREIGHT RATE TRACKER: Q1 2022:
Ti’s Ocean Freight Rate Tracker provides transparency on current sea freight rates, capacity, congestion, container availability by trade lane. The report also maps out expected rate development for each quarter out to 2023. The Q1 2022 report is now available to download for free.
About Transport Intelligence (Ti)
Transport Intelligence (Ti) is one of the world’s leading providers of expert research and analysis dedicated to the global logistics industry. Utilizing the expertise of professionals with many years of experience in the express, road freight and logistics industries, Transport Intelligence has developed a range of market-leading web-based products, reports, profiles and services used by many of the world’s leading logistics suppliers, consultancies, banks and users of logistics services.
For further information, please contact Michael Clover, Ti’s Head of Commercial Development, [email protected]
Telephone: +44 (0)1666 519907
Web: ti-insight.com
Twitter: @Ti_insight
LinkedIn: Transport Intelligence
Instagram: @logistics_briefing