An update on the happenings within Northline’s International department
It has been a very busy and exciting quarter for Northline’s International Freight Management...
Read moreThe July to September quarter did not see the peak in demand volumes that are usually seen in prior years. Prompted predominantly by improved customer inventory management and a subdued growth environment following the pandemic-fueled years.
Seasonal demand progressively weakened moving through September leading up to China’s Golden Week holiday, (starting 29 September), pushing SPOT rates down and increasing the frequency of blank sailings from carriers in response to weakening demand. Ocean freight rates continued to sink, despite capacity cuts, reaching their lowest levels since 2019. The industry faces challenges with declining ocean rates, while a cautious approach is taken regarding peak season prospects.
The October to December quarter has started slowly as China returns from Golden Week celebrations. Many customers held back orders, and orders that were placed are, in most part, pending ETDs out of main China ports as at early to mid-October. We predict many carriers will be using this quarter to balance the network, considering forecast reductions in demand and a reduced workforce, to handle cargo operations and foresee FAK rates on North East Asia to East Coast routes increased by the major carriers to improve operational profitability.
The decarbonisation journey pushes box ship orderbooks to new heights with:
It has been a very busy and exciting quarter for Northline’s International Freight Management...
Read moreHaving joined Northline in 2006 as a Graduate and working through many departments such as...
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