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Logistics & Shipping Market Analysis – April 2023 


Carrier industry had a bit of a downer towards the end of 2022 – Evident by financial results 

The container carriers had a bit of a rough patch in the last quarter of 2022. Even though the situation had been better earlier in the year, things definitely slowed down towards the end. 

  • Hapag Lloyd is saying they’re expecting a huge drop in earnings for 2023 – they estimated that they’ll only make between USD 4.3-6.5 billion compared to the massive USD 20.8 billion they made in the previous year.  
  • Maersk Line is in the same boat – they’re predicting earnings of only 2.0-5.0 billion, compared to the massive 33 billion they made in 2022. 
  • It looks like the shipping market is going to continue to slow down in 2023, so CMA CGM is also expecting a bit of a tough year ahead. 

Ocean Freight Market – April 2023

++ Strong Increase 
+ Moderate Increase 
= No Change 
 Moderate Decline 
 Strong Decline 


Middle East – North America

There’s not a lot of space in the Gulf right now, which is making the rates go up. More capacity is coming in every month. 

Capacity — (+) 

Rate — (+) 

Note: Spot rates are flat.  

Middle East – Asia

The Asian region Gulf services are seeing a rate rebound after Chinese New Year, but there’s not going to be any extra capacity coming in anytime soon. 

Capacity — (=) 

Rate — (+) 

Note: Spot rates are flat. 

Middle East – Europe

The Asian region Gulf services are seeing a rate rebound after Chinese New Year, but there’s not going to be any extra capacity coming in anytime soon. 

Capacity — (=) 

Rate — (=) 

Note: Spot rates are flat. 

Middle East – Latin America

There’s plenty of space out of the Gulf these days. Carriers are slowing down on this trade lane, which is improving the space situation. 

Capacity — (=)  

Rate — (=) 

Note: Spot rates are flat. 

Inbound Updates

Asia – Middle East  

Ramadan is having an impact on the Middle East and Red Sea Market, which is causing rates to drop. But watch out – if carriers start canceling more sailings, we could see rates jump back up to pre-Covid levels. 

Capacity — (-) 

Rate — (-) 

Note: Equipment situation is healthy across Asia. 

North America – Middle East

Some carriers in the Mideast market are getting pretty aggressive, probably because the rates keep going down. 

Capacity — (+) 

Rate — (-) 

Note: On side conditions, concessions are available. 

Latin America – Middle East

Things aren’t looking too hot for Central American exports right now, especially to the Med and Mideast. The SAEC market is also heading downwards, which is making rates go back up to pre-Covid levels. 

Capacity — (=) 

Rate — (-) 

Note: Vessels are open. 

Europe – Middle East 

You can breathe easy if you’re looking for capacity in the East Med – there’s plenty of space available. Rates are softening for both short and long-term contracts too, so it’s a good time to book. 

Capacity — (=) 

Rate — (=/-) 

Note: No equipment issues. 

Air Freight Overview – April 2023

Demand: Demand in emerging markets with higher export orders has improved according to the PMI index. However, the world economy is facing adverse effects due to increasing interest rates and the Ukraine crisis. Nonetheless, the reopening of the ASPA market is expected to facilitate a quick global economic recovery. 

Capacity: Capacity is continuously improving, with both belly capacity and passenger travel capacity following an increasing trend. Although there are currently no bottlenecks anticipated in the coming months, ongoing labor disputes may have an operational impact. 

Rates: There is a competitive spot market in many trade lanes, with a slight increase in charter and ad hoc rates. Long-term rates are expected to become more stable as 2023 progresses, with the tonnage growth trend playing a vital role.  

The Middle East and Air Carriers

The Middle East aviation industry has seen an improvement in the pace of recovery in 2022 and is expected to continue this trend over the next decade with an increase in its share of the global fleet. According to a report, the fleet share of the Middle East will rise from 4.9% in 2022 to 6% in 2023.  


In Asia, there has been a slight increase in demand since Chinese New Year, which is expected to further rise in the coming months. Available capacity is sufficient to support the soft demand, and rates are expected to remain competitive in the market.  

Demand on the Asia to Europe route remains soft, resulting in decreasing rates and increasing capacity. On the Asia-North America route, providers are adding more flights, but improvement is not expected until the third quarter due to importers selling through existing inventory. 


In the United States, capacity is open, but rates are still trending downwards. Additional capacity in the market is expected due to increased travel demand in the coming months. Capacity for North American trade lanes is anticipated to remain flat month over month, and the spot rates will remain flat for Africa, Latin America, and the Middle East, while decreasing in Asia, Europe, and Oceania. 

In the Latin America market, overall capacities are expected to remain flat, while spot rates will increase for all trade lanes. 


In Europe, due to the ongoing return of regular scheduled passenger flights, capacity continues to increase. Demand for the Asia trade lane will stay moderate this month, allowing for easier capacity access.  

The Latin America market is overall stable, while in North America, capacity is expected to grow as the summer schedule becomes effective from the second quarter. Spot rates from Europe to Africa, Asia, Latin America, and the Middle East will remain flat, and will decrease for North America. 

Shipping Local News – United Arab Emirates – April 2023 

CMA CGM has announced revisions to the Bunker Adjustment Factor (BAF) on its RORO services connecting France to Algeria, Tunisia, and Morocco, with the new surcharges to come into effect from April 1, 2023. Read More 

Maersk has provided an update on the Nhava Sheva Port in India, indicating an expected surge in export demand due to traffic and queues outside the port. Read More 

Ocean Network Express (ONE) has announced new surcharges that will apply to all trade lanes to/from the United Arab Emirates, with the changes to become effective from April 1, 2023. Read More 

ONE has unveiled new demurrage and detention tariffs that will take effect in the UAE from 1st April 2023. Read More 

CMA CGM has launched BIGEX services to connect Bangladesh to India and UAE, the only product connecting Bangladesh to Jebel Ali and Khalifa. See More 

Emirates Shipping Line LLC will implement an Environmental Fuel Surcharge (EFS) between USD 650 to USD 700 per ton, based on the price of low sulfur fuel, from April 1, 2023. Read More 

Hapag Lloyd has updated local charges for the Middle East, Indian Subcontinent, and Africa. Read Details 

Hapag Lloyd is introducing a West Africa Service (WA1) in May 2023 to factor in strong schedule reliability and extended port coverage in cargo planning. Read More 

Cargo Gulf is again launching the Arabian Gulf Indian Subcontinent (AGISC) service. Read More 

Ogefrem Head Office has issued a Circular Letter regarding shipments arriving in the Democratic Republic of Congo without FERI. Read More 

Global Factory Output – Overview

The Drewry World Container Index (WCI) declined by 2% to $1,716.85 per 40ft container in the final week of March, indicating that prices are approaching their normal level. The current PMI value is 36% lower than its 10-year average of $2,690.  

United States of America (USA)

The US manufacturing sector demonstrated concerning trends in March, despite output increasing since last October, as growth was fractional and supported by production ramping up. Firms were able to work through their backlogs due to timely input delivery, but scarce demand resulted from pressure on customer spending due to high interest rates and inflation. 

United Kingdom (UK)

UK manufacturing production fell back to contraction at the end of Q1 as companies scaled back production in response to subdued market conditions. Although there was a fractional increase in new orders following a nine-month sequence of contraction, the overall order book levels remained low. The declining new export orders continue to be a drain on demand, balancing the signs of a domestic market revival. 


Chinese manufacturers reported soft gains at the end of Q1 2023 after a solid increase in output and new orders in February. The sustained upturn in demand supported a further increase in purchasing, but inventory continued to fall as most firms maintained a cautious approach to stock building. 

United Arab Emirates (UAE)

In February, the UAE PMI index reached 54.3, up from 54.1 in the previous month, with output growing for the first time in four months due to increasing sales and new project initiation. New orders also increased, although the expansion rate was the weakest since September last year. 

Global Interesting News – April 2023 

Freight News


Narita Airport to build $2.7B cargo logistics facility Read More 

Another warning strike brings Germany’s main airports to a halt again Read More 

YEG to pilot hydrogen technologies to advance air cargo Read More 

Air cargo seeing little impact from French general strike Read More 

Deadline looms for freighter operations to change airports in Mexico City Read More 

Etihad Cargo streamlines dangerous goods, pet bookings online Read More 

IATA: Soft start to 2023 for air cargo industry Read More 

LATAM Cargo announces the addition of a new Boeing 767 BCF Read More 

DHL Global Forwarding reports record airfreight revenues Read More 

FedEx to transfer LAX airport maintenance to Indianapolis Read More 

Maersk’s new air freight service to connect Denmark with China Read More 

Changi team up with Brussels airport on cargo Read More 

CargoAI takes in more airline partners Read More 

DACHSER offers daily air freight service from China and Hong Kong to Frankfurt Read More 

Saudia Cargo awards multi-station contract to WFS Read More 

Air Cargo closes 2022 near Pre-Pandemic Levels Read More 

LATAM Cargo connects South America with Brussels Airport Read More 

Messe München brings first logistics multimodal trade fair to Singapore Read More 

UPS expands hub at Changi Airport, nearly doubling capacity Read More 


New EU law ‘marks the beginning of the end of dirty fuels in shipping’ Read More 

Retail giants launch new alliance for green sea freight Read More 

Labor shortage puts pressure on deliveries of new ships from South Korea Read More 

Maersk Supply Service wins three-year contract on three L-class ships Read More 

Maersk enters methanol collaboration with world’s largest port Read More 

Freight thieves in US ports target food products Read More 

Major US port enters deal about green corridor to Japan Read More 

DP World to invest USD 35m in Brazilian port Read More 

Maersk opens first freight route to Ukraine since war began Read More 

House panel eyes ending ocean carriers’ antitrust exemption Read More 

Trans-Atlantic container rates still double pre-COVID levels Read More 

Norway’s leading car port seeks expansion to meet growing EV imports Read More 

Russia-bound Containers Stuck at Antwerp Port for Year Read More 

See-Saw effect in ocean freight rates affecting supply and demand equilibrium Read More 

CMA CGM applies new overweight surcharge from Saudi Arabia to North Africa and Morocco Read More 

Jeddah Islamic Port enhances decarbonisation activities Read More 

DP World adds inland container depot at India’s Hazira Port Read More 

Record container throughput for King Abdulaziz Port Read More 

YILPORT integrates Navis TOS into Portuguese box terminal Read More 

Port of Rotterdam supports green hydrogen project at Maasvlakte Read More 

DP World to build new edible oil terminal in Berbera Port Read More 

Maersk Supply Service extends long-term contract in Taiwan with Seaway7 Read More 

Chittagong port to receive larger vessels Read More 

The Suez Canal breaks record for single-day vessel registration Read More 

COSCO and China Merchants tipped to bid for stake in Hutchison Ports Read More 

CMA CGM, COSCO and Hapag-Lloyd line up further orders Read More 

Strikes at UK Airports and Ports – Cargo operations may be impacted Read More 


Beijing and Moscow develop rail trade with new route and river bridge Read More 

Lawmakers introduce ‘clear path’ to more truck parking Read More 

Transport prices in France see a timid rise in February Read More 

EAEU mulls over transport hub in United Arab Emirates Read More 

Russia’s Transport Industry Adapts to a New Way of Life Read More 

The Ministry of Transport of Uzbekistan is negotiating the transportation of goods to Europe through Lithuania Read More 

Kazakh deputy minister talks Middle Corridor’s Benefits for global trade dev’t Read More 


Intra-Asia trade could surpass $13T by 2030 Read More 

European Commission Proposes Net Zero Industry Act Read More 

IAG Cargo sets sights on digitalization, new routes Read More 

Qatar Airways Cargo to use AI to optimize overbooking Read More 

IAG Cargo adds Aruba and Guyana to its network Read More 

86% of pharma and biotech companies plan to invest in ‘digitally agile’ supply chains in the next 12 months Read More 

DP DHL outlines criteria for any DB Schenker bid Read More 

Supply chains ‘finally beginning to stabilize’, says Maersk Read More 

For Shippers, Disruption Means Opportunity to Rethink Carrier Strategy Read More 

Guidelines for shipment of Lithium-Ion Batteries by Sea published Read More 

Are there really any limits to artificial intelligence in shipping? Read More 

A.P. Moller Capital to Acquire South African frozen logistics operator Read More 

AD Ports Group commences new Ro-Ro service between UAE and Kuwait Read More 

CMA CGM to launch BIGEX, a new service connecting Bangladesh and India with the Gulf Read More 

DHL forms joint venture with Saudis Aramco Read More 

Saudis’ newest carrier to Fly with all-Boeing Fleet Read More 

Dachser expands in Oceania with acquisition Read More 

DHL Express launches GoGreen Plus Read More 

DB Schenker uses ultra-thin high-tech labels for shipment tracking Read More 

Global trade growth powered by green products, UNCTAD finds Read More 

Navigating the 2023 Supply Chain: Opportunities and Challenges Ahead Read More 

Freight Forward: Volumes slowly growing Read More 

Cargo theft, led by food and beverage, is surging across the U.S. Read More 

3PL News

UPS Healthcare opens first dedicated pharma facility in Germany Read More 

DP World announces $200M cargo hub in Dominican Republic Read More 

Delta Cargo unveils largest cooler facility at JFK Read More 

Milwaukee Mitchell International Airport plans new cargo facility Read More 

Optimizing inventory key for SMBs to beat shrinking warehouse landscape Read More 

APM Terminals to Partner on new Vietnam Facility Read More 

DP World opens reefer container facility in Sydney Read More 

DHL global forwarding opens Brisbane facility Read More 

Locus launches ShipFlex for flexible third-party delivery Read More 

MET taps 15 lenders for €1.23bn facility Read More 

Freight Forward – Slowdowns but opportunities increase Read More 

Home Delivery Performance: Ticking Time Bomb Or Market Opportunity? Read More 

Scalable automation that optimises core warehouse functions Read More 

GemOne: how telematics is helping warehouse businesses become safer, more efficient, and digitally mature Read More 

Barcelona to tax logistics companies Read More 

Trade and Customs News

China’s exports continue to slide – adding pressure to the economy Read More 

Electronic bill of lading provider leverages Singapore legal reform to rip up the rulebook Read More 

Letter of credit payments permitted despite Russia sanctions, UK court rules Read More 

Ukraine grain deal faces fresh uncertainty as Russia struggles with agri exports Read More 

WTO stays glum on trade prospects Read More 

REVISED COVID-19 Point Of Entry Guidelines (Zambia, 2023) Read More 

Industry bodies unite in producing Guidelines for the safe transport of Lithium-ion batteries in containers Read More 

Single window for ship data exchange to become mandatory Read More 

UNCTAD and World Customs Organization enhance cooperation Read More 

Israel-UAE free trade deal takes force as customs agreement inked in Jerusalem Read More 

E-commerce Logistics News

DB Schenker opens automated e-commerce logistics hub in Spain Read More 

Is inflation crushing e-commerce volume growth? Read More 

Ethiopian Airlines and MailAmericas Launch E-commerce Logistics Services Read More 

The slowdown in E-Commerce Hitting Logistics Companies’ Payrolls, Experts Say Read More 

Global e-Commerce Logistics Market Report 2023: Market to Grow 7.9% in 2023 to Reach a Value of €451+ Billion – Forecasts to 2027 Read More 

Preparing for the peak: how retail, FMCG and lifestyle brands can build an agile e-commerce strategy Read More 

5 trends Indian E-commerce industry can expect to see in 2023-24 and how to prepare Read More 

U-Freight gains recognition for e-commerce logistics product Read More 

E-Commerce Giant Alibaba Will Become 6 Different Entities Read More 

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