dhl Global Forwarding’s “State of the Air Cargo Industry” report for December 2022 paints a worrying, but not entirely bleak picture of the operational outlook.
The following Low volume in NovemberDeclining demand continues in most trade lanes and is likely to continue until 2023, the report said.
dhl said e-commerce shipments contributed “insignificantly” to growth in global freight volumes at the end of the year.
“Any expected volume growth is likely to occur outside Asia-Pacific ahead of Chinese New Year,” the company said.
It added that the reduced ocean freight rates have allowed shippers to move from air to ocean freight.
Furthermore, global freight rates remained below last year’s levels, despite the impact of higher fuel prices.
Although, Latest analysis published by CLIVE Data Services shows that while the spot rate fell, the average rate in December was still 75% above pre-Covid levels.
The report does note that while inflation will continue until 2023, it is likely to decline.
Global inflation started to climb last year as economic pressures began to show, but the International Monetary Fund (IMF) said it would come down.
“The IMF forecasts that global inflation will fall to 6.5 percent in 2023 and 4 percent in 2024,” dhl said.
In the first quarter of 2023, dhl expects low but stable demand, high inventories and low volumes.
“Require [is likely] It will only increase when the country starts to recover from high inflation,” the report said.
The increase in bellyhold and freighter capacity does mean that overall capacity is sufficient to support current demand levels.
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