Stay Ahead of the Curve: How's the Freight Market in July - August 2023?

Global air freight volumes are already lower than the same time period in 2019, and freight rates have also returned to pre-pandemic levels.

E-commerce is currently a major driver of trade between China and the United States.

Inventory levels in the United States have begun to decline, suggesting that demand may pick up in the fourth quarter of 2023.

The sharp drop in spot rates for Transpacific Eastbound led by Maersk in mid-June triggered a ripple of shock waves in rates among carriers. In response, more carriers are withdrawing redundant capacity by resuming blank sailings in July.

The overall capacity cut on Transpacific Eastbound (TPEB) and European Westbound (EUWB) from Asia is expected to jump from less than 10% to more than 15%.