Analysis - BREXIT resulted in significant decline in trade-flows for UK with EU –

Imports from EU now only 40% of total (2018 – 57%)

China – Australia ocean services continue to be affected by overcapacity and lack

of demand. Offers of free freight have been on the table for refrigerated containers to be repositioned to Australia/New Zealand. Ocean freight Hong Kong – Melbourne now significantly less less than Melbourne Terminal charges.

East China ports (Ningbo, Shanghai) affected by COVID lockdown and deliveries to container terminals are compromised regularly.

Ocean carriers continue to ‘blank’ sailings to achieve rate stability.

Chinese state-owned carrier Cosco bidding for stake in German container terminal

in port of Hamburg. Points to successful operation in Greek terminal in Piraeus.

Weather conditions on East Australian Seaboard affected reliability of delivery

services especially in rural areas. Container depots offering extended free periods.

Asia-Pacific year-on-year air cargo demand dropped by more than 10% and with increased capacity available, average load factors are down to 64%. Air volumes

to/from U.S.A. continue to weaken with no peak season in sight yet.

World fleet of cargo vessels continues to restructure with smaller vessels being

taken out of service and scrapped.

European ports continue to be affected by rapid changes in vessel rotation and

congestions due to infrastructure issues (low river levels + lack of rolling stock on

railway systems).

North America West Coast congestion eased and operations in Oakland, Long

Beach + Portland back to normal. Congestion now affecting East Coast and

Southern ports with long delays in Savanah, Houston + New York.

FedEx announced 2023 increase in rates of 6.9%. UPS fell in line and announced

increase of 6.9% across board w.e.f. 23 December.

US parcel volumes continue to remain flat – no peak season anticipated.

China celebrated ‘Golden Week’ 01 – 07 October. Many sailings cancelled and no

sudden rush for rest of October as commercial activities remain subdued. BSI is offering additional information, and we hope you remain safe and well.