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Here’s the monthly ocean market update by DHL Global Forwarding, spanning:
1) Topic of the month: How does the Ukraine conflict impact Ocean Freight?
2) High level development
3 ) Market outlook
4 ) Economic outlook & demand development
5 ) Capacity development
6) Carriers
7) Ocean schedule reliability
8) Did you know? Carrier Financial results 2020–2021
Topic of the month – How does the Ukraine conflict impact Ocean Freight?
Contrary to the situation in airfreight where closed airspaces lead to significant longer transit times, the impact on the OFR market situation remains so far limited to the region:
– DHL does no longer accept cargo to/from Ukraine, Russia and Belarus.
– All Ukrainian sea ports on the Black Sea are closed.
– Many major ocean carriers (e.g. Maersk, Hapag-Lloyd, CMA CGM, Evergreen, ONE, Yang Ming Line) have suspended their services to Russian ports. Cargo is diverted to ports in Romania, Turkey, Greece and Italy, potentially leading to port congestions in that region.
– Current rail operations between Asia and Europe are running smoothly without disruptions. On the North corridor bookings are accepted against signed DHL’s LOI. On the South corridor a connection via Caspian Sea is due to start in early April. Connection Guiyang – Duisburg is expected to travel to Europe in 30-35 days. No LOI is required via the Southern corridor.
The full doc can be downloaded here.
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