The Times Australia
News From Asia

.

DHL: Ocean freight rate moving towards manageable levels

SINGAPORE - Media OutReach - 18 October 2022 - The DHL Ocean Freight Market Update report is now available. Below are highlights of the latest developments of the global ocean freight market in this monthly analysis by DHL Global Forwarding.



  • A muted peak shipping season in 2022 has prompted a downward shift for freight rate levels as effective vessel supply increases, demand into some key import markets slows. "This year, we did not see the normal rush for space ahead of Golden Week when factories close in China," said Kelvin Leung, CEO, DHL Global Forwarding Asia Pacific.
  • Easing bottlenecks – According to maritime analysis firm Sea-Intelligence, 50 percent of the global port congestion that was tying up vessels at ports in January had been cleared by August. The release of this extra capacity has relieved physical shortages of capacity and added to downward pressure on spot freight rates which have been in decline on the major East-West trades since the second quarter.
  • "We've seen an easing of port congestion, although labour strikes at ports in the U.K. are causing some disruption and we're still seeing vessel queues on the U.S. east coast which has offset improvements at U.S. west coast ports," said Leung.
  • Demand outlook - The demand side outlook continues to weaken on war risk, skyrocketing energy costs, political instability and general inflation, all of which are now impacting overall consumer spending and thus trade volumes. The combination of a manufacturing sector in recession, and rising inflationary pressures would add further to concerns about the outlook for the eurozone economy.
  • Meanwhile, the closure of factories during China's October Golden Week holiday along with the Chinese government's continuing zero Covid-19 policy have impacted production, reducing demand for shipping capacity. Drewry has now lowered its global container handling demand outlook for 2022 and 2023 to 1.5 percent, and to 1.9 percent, respectively, on the back of heavily downgraded GDP predictions.
  • Service reliability - The more favourable supply-demand balance for shipping's customers has led to a global schedule reliability improvement of 5.8 percentage points in August compared to July, while the average delay for late vessel arrivals also dropped sharply, according to Sea-Intelligence.

The DHL Ocean Freight Market Update is a monthly report by DHL Global Forwarding which tracks and analyses the latest developments of the global ocean freight market. Read full analysis on DHL's Logistics of Things here.

Hashtag: #DHL

DHL – The logistics company for the world

DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 380,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as "The logistics company for the world".

DHL is part of Deutsche Post DHL Group. The Group generated revenues of more than 81 billion euros in 2021. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. Deutsche Post DHL Group aims to achieve net-zero emissions logistics by 2050.

Times Magazine

Building an AI-First Culture in Your Company

AI isn't just something to think about anymore - it's becoming part of how we live and work, whether we like it or not. At the office, it definitely helps us move faster. But here's the thing: just using tools like ChatGPT or plugging AI into your wo...

Data Management Isn't Just About Tech—Here’s Why It’s a Human Problem Too

Photo by Kevin Kuby Manuel O. Diaz Jr.We live in a world drowning in data. Every click, swipe, medical scan, and financial transaction generates information, so much that managing it all has become one of the biggest challenges of our digital age. Bu...

Headless CMS in Digital Twins and 3D Product Experiences

Image by freepik As the metaverse becomes more advanced and accessible, it's clear that multiple sectors will use digital twins and 3D product experiences to visualize, connect, and streamline efforts better. A digital twin is a virtual replica of ...

The Decline of Hyper-Casual: How Mid-Core Mobile Games Took Over in 2025

In recent years, the mobile gaming landscape has undergone a significant transformation, with mid-core mobile games emerging as the dominant force in app stores by 2025. This shift is underpinned by changing user habits and evolving monetization tr...

Understanding ITIL 4 and PRINCE2 Project Management Synergy

Key Highlights ITIL 4 focuses on IT service management, emphasising continual improvement and value creation through modern digital transformation approaches. PRINCE2 project management supports systematic planning and execution of projects wit...

What AI Adoption Means for the Future of Workplace Risk Management

Image by freepik As industrial operations become more complex and fast-paced, the risks faced by workers and employers alike continue to grow. Traditional safety models—reliant on manual oversight, reactive investigations, and standardised checklist...

The Times Features

Flipping vs. Holding: Which Investment Strategy Is Right for You?

Are you wondering whether flipping a property or holding onto it is the better investment strategy? The answer isn’t one-size-fits-all. Both strategies have distinct advantages a...

Why Everyone's Talking About Sea Moss - And Should You Try It Too?

Sea moss - a humble marine plant that’s been used for centuries - is making a major comeback in modern wellness circles. And it’s not just a trend. With growing interest from athle...

A Guide to Smarter Real Estate Accounting: What You Might Be Overlooking

Real estate accounting can be a complex terrain, even for experienced investors and property managers. From tracking rental income to managing property expenses, the financial in...

What Is the Dreamtime? Understanding Aboriginal Creation Stories Through Art

Aboriginal culture is built on the deep and important meaning of Dreamtime, which links beliefs and history with the elements that make life. It’s not just myths; the Dreamtime i...

How Short-Term Lenders Offer Long-Lasting Benefits in Australia

In the world of personal and business finance, short-term lenders are often viewed as temporary fixes—quick solutions for urgent cash needs. However, in Australia, short-term len...

Why School Breaks Are the Perfect Time to Build Real Game Skills

School holidays provide uninterrupted time to focus on individual skill development Players often return sharper and more confident after structured break-time training Holid...