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1、FEBRUARY 2023 PUBLICATION DATE JANUARY 30TH,2023OCEAN FREIGHTMARKET UPDATEDHL Global Forwarding Excellence.Simply delivered.UNCLASSIFIED(PUBLIC)UNCLASSIFIED(PUBLIC)ContentsOcean Freight Market update February 2023DGF Global Forwarding|OFR Market Update|February 202321Topic of the month Maersk and MS
2、C to discontinue 2M Alliance in 2025 2High level market development3Market outlook4Economic outlook&demand development5Capacity 6Ports7Ocean schedule reliability8Did you know Top Containerline Operators UNCLASSIFIED(PUBLIC)Topic of the month Maersk and MSC to discontinue 2M Alliance in 2025DGF Globa
3、l Forwarding|OFR Market Update|February 20233MSC/Maerskpress release(extract):In a joint statement released on Jan 25th,2023,MSC Mediterranean Shipping Company(MSC)andMaersk A/S,an entity under A.P.Moller-Maersk,announced to have mutually agreed toterminate,effective in January 2025,the present 2M a
4、lliance.The 2M alliance a container shipping line vessel sharing agreement(VSA),was introduced in2015 by Maersk and MSC with the aim of ensuring competitive and cost-efficient operations onthe Asia Europe,Transatlantic and Transpacifictrades.Source:Joint press statement by MSC and Maersk Jan 25th,20
5、23,DHLDHLview of theexpected ImpactWe do not foresee an immediate impact on services provided under the 2M agreement.The recent announcement however will certainly triggerfundamental discussions amongst the carriers.It is possible that we will see an important re-shuffle of the carrier landscape and
6、 that new Alliances will beformed.No doubt that the discontinuation of the 2M alliancewill change the course of business in the major East West trades.UNCLASSIFIED(PUBLIC)High level market developmentDGF Global Forwarding|OFR Market Update|February 202341)Real GDP,Copyright IHS Markit,now part of S&
7、P Global,Q4 2022 Update 8 Dec 22.All rights reserved;2)IHS Markit,now part of S&P Global,Q3 2022 Update 5 Sep 22.All rights reserved;3&4)Surcharges related to e.g.,equipment&space availability are not reflected in WCI&SCFI;3)Drewry,in USD/40ft container,including BAF&THC bothends,42 individual route
8、s,excluding intra-Asia routes;4)Shanghai Shipping Exchange,in USD/20ft ctnr&USD/40ft ctnrfor US routes,including BAF,EBAF,CAF,PSS,WRS,PCS&SCS/SCF/PTF/PCC,excl.THC,15 routes from Shanghai;5)Source:DHLECONOMIC OUTLOOK GDP GROWTH BY REGION1)INFLATION,YOY in%2)WORLD CONTAINER INDEX(WCI)3)SHANGHAI CONTAI
9、NERIZED FREIGHT INDEX(SCFI)4)12,0004,0006,00002,0008,00010,000Q123Q1 21Q2Q3Q4Q122Q2Q3Q41,00006,0005,0004,0002,0003,000Q123Q1 21Q4Q122Q3Q2Q4Q2Q3BUNKER PRICES5)ActualForecastActualForecast1,0001,2004006008009005007001,100MF22ADMJJASONJ2330%2022F 2023F 2024F 2025F 2026FCAGR(2023-26)AMER 2.2%0.2%1.5%2.0
10、%2.1%1.9%ASPA 3.4%3.8%4.6%4.3%4.3%4.4%EURO 2.3%-0.6%1.8%2.1%1.8%1.9%MEA 5.0%3.1%3.4%3.3%3.0%3.2%DGF World2.8%1.4%2.8%3.0%2.9%2.9%-20192023F201720182024F202020212022F2025F 2026FCNJPDEUSUKIFO 380VLSFUNCLASSIFIED(PUBLIC)Major trades Market outlook February 2023 month-on-month development5Sou
11、rce:DHL*incl Mexico and Central America/CenacStrong Increase+Strong Decline-Moderate Decline-Moderate Increase+No Change=KEYImport regionCapacityRateAMNO=AMLA&MX=-ASPA=MENAT=/-SSA=/-EUROPEImport regionCapacityRateEURO-=AMNO-=AMLA-EC/-WC+EC/+WCASPA-=/-MENAT-OCEANIA+-ASIA PACIFICImport regionCapacityR
12、ateEURO+-AMLA=ASPA=MENAT+-SSA=/-NORTH AMERICAImport regionCapacityRatesEURO=-AMNO=+ASPA=-MENAT=SSA=LATIN AMERICA*DGF Global Forwarding|OFR Market Update|February 2023UNCLASSIFIED(PUBLIC)Market outlook February 2023Ocean Freight rates Asia-Pacific exports6ASPA-EUROASPA-AMNOASPA-AMLAASPA-MENATASPA-ASP
13、ASource:DHLThe current blank sailing program is balancing out demand with-27%of capacity until mid of February and will further add more blank sailing if necessary to stabilize the market.There was no pre CNY rush this year and with China re-opening air travel,the factories are expected to reopen in
14、 the 2nd half of February.Hence,carriers have extended their rates into February.Carriers implemented large scale of blank voyage and shrink down the vessel size to support the attempted GRI in mid-Feb.At the moment there is rolling pool to support voyages during holiday but the rate indication in 1
15、H Feb remain flat.Some carriers are pushing for extra booking to Caribbeans.Demand has been lull to MENAT especially Africa but is expected to pick up slightly after Lunar New Year holidays after factories return to production.Shortfall ratio was also higher in Jan due to Covid cases thereby affecti
16、ng exports.Key is the expected production resumption possibly after 1st week of Feb.Balancing capacity deployment from the carriers is important to hold rates and we are seeing around 40%of blank sailing to EMED especially.Should demand return quickly after LNY,we can expect possibility of tight spa
17、ce/rollover and pick up in rates.Equipment at ASPA origins is largely available especially from main ports.With China re-opening,temporary supply chain disruption are expected due to the shortage of manpower and CNY celebration.Demand remains lull with a slow recovery for both IA and IPBC market.Car
18、riers are planning blank sailing arrangement to balance the capacity which may result in space crunch after CNY thus pushing up the rates temporarily.For time-sensitive shipments,direct sailing should be considered to avoid potential congestion at transhipment port.DGF Global Forwarding|OFR Market U
19、pdate|February 2023UNCLASSIFIED(PUBLIC)Market outlook February 2023Ocean Freight rates Other major trades7EURO-AMNOEURO-ASPA+MEAAMNO-EUROAMNO-ASPAAMLA ExportsSource:DHLThe North American coast lines are now almost clear,with hardly any ships waiting outside the West Coast ports and very few offthe E
20、ast Coast and Gulf.Bottlenecks are still reported from Houston,Vancouver and during peaks Oakland,but even in these portsthe situation improved drastically compared to last year.Further relief,both in Europe and in North America,is expected by theend of Q1 following the factory closures for Asias Lu
21、nar New Year holiday and thus less volumes arriving.This will allow Ports and Inland terminals to clear more of the remaining backlog.In general the inland transport capacities are now reported as sufficient in most areas,but chassis shortages are still an issue throughout the US and seasonal weathe
22、r delays and restrictions have to be expected for truck and rail moves in Canada and the US.While the overall trend remains positive,backlogs still occur and delays still have to be expected.Asia:space situation is still relaxed.No issues with capacity only vessel delays.Rates remain stable at low l
23、evels.AU/NZ:no space issues any longer on both services.Rates are further decreasing.MEA:space and equipment is available.Rates are decreasing slightly.Capacity into EastMedis available and rates soften for short and long term contracts.Slight decline of FAK rates and BAF in February.Improved schedu
24、led reliability while the congestion is easing in all US ports.Additional capacity came to the market in January with Ellerman introducing a Transatlantic service from USEC to Europe.AMNO ASPA:Rates and Capacity are stable and carriers are looking for export freight.AMNO SPAC:Rates are stabilizing b
25、ut severe capacity situation remains ongoing.AMLA AMNO&INTRA:Spot market is quite dynamic,especially for areas such as BR and MX exports.Carriers are opening up to discuss free time conditions for key areas sought for volumes.Congestion improvement at many transshipment points within LATAM.ZIM promo
26、ting heavily new WCSA services.COSCO suspends Manaus call,but advertising space on BZX services.AMLA ASPA:Good space availability,due to low demand.Rates are falling due to this situation.AMLA EURO,MENAT&SSA:Carriers are continuing to push MEDGULF as slots remain available from MX EC to MED.In the m
27、iddle of contracting season,SAEC demand continues to soften,and market is trending downwards fast.DGF Global Forwarding|OFR Market Update|February 2023UNCLASSIFIED(PUBLIC)Economic outlook&demand evolution The global economic outlook brightens as inflation eases 8Source:IHS Markit,now part of S&P Glo
28、bal,IHS Purchasing Manager Index Manufacturing,a PMI at 50 is considered neutral,expanding above 50,and business shrinking below 50Western Europe will avert a severe recession as energy conditions improve.IHS Markit still forecast a mild,two quarterrecession as high inflation erodes household income
29、s and financial conditions tighten.Yet,the risk of severe,energy-induced contractions in output has decreasedthanks to temperate early winter weather,high natural gas storage levels,and lower energy prices.After an estimated 3.4%increase in 2022,eurozone real GDP is projected to edge up 0.2%in 2023,
30、followed by 1.5%growth in 2024.Mainland Chinas reopening will lift the global economy.After slowing from 8.4%in 2021 to 3.0%in 2022,real GDP growth is forecast to pick up to 5.0%in 2023 and 5.8%in 2024 before resuming a long-term slowdown.COVID-19 outbreaks appear to have peaked in most major cities
31、 sooner than anticipated,mobility is recovering,and economic activity is accelerating from weak levels in the closing months of 2022.Although consumer confidence remains fragile,there is potential for a consumer-led rebound given that households raised their saving rates during the pandemic.Governme
32、nt policy is now focused on supporting economic growth,likely through credit policies,infrastructure investments,relaxation of property sector restrictions,and an easingofregulations on technology companies.Trading partners in Asia-Pacific and beyond will benefit from recoveries in Chinese industria
33、l production and tourism.Lower rates of economic growth lie ahead in Latin America.Latin Americas real GDP growth is forecast to slow from an estimated 3.7%in 2022 to 1.6%in 2023 in response to tight monetary policies and a weak global economic environment.Higher interest rates and tighter credit co
34、nditions will limit growth in private consumption and investment,while a less favorable external environment will restrain exports.A dose of social turmoil also hurts business sentiment and investment.In December,the JPMorgan Global Composite Output Index(compiled by S&P Global)edged up 0.2 point to
35、 48.2 but remained in contraction territory for a fifth consecutive month.Output and new orders declined in manufacturing and services,while inflation in input costs and output prices eased.The US economy enters a mild downturn.Real GDP likely increased at a 2.3%annual rate in the fourth quarter of
36、2022 with support from inventory accumulation and gains in consumer spending and business equipment investment.However,declines in retail sales and industrial productionin November and December suggest the economy is on a downward trajectory heading into 2023.IHS Markit continue to forecast a recess
37、ion in the first two quarters of 2023,led by an inventory drawdown and declines in residential investment,commercial construction,and consumer spending on goods.Several forces will limit the severity of the recession:household finances are in good shape,automotive production will increase as micropr
38、ocessor supplies recover,and dollar depreciation will support net exports.After slowing from 2.0%in 2022 to 0.5%in 2023,US real GDP is projected to increase 1.8%in 2024.EUROPEAMERICASASIA PACIFICEMERGING&DEVELOPING COUNTRIESDEMAND DEVELOPMENTDGF Global Forwarding|OFR Market Update|February 2023UNCLA
39、SSIFIED(PUBLIC)It has become a general practice for container lines to“void”sailings in the calmweeks after the Chinese New Year.In contrast to this the weeks before the holidaystypically saw a small export rush from China,as cargo is shipped out before thefactories close and productions comes to a
40、near standstill.This year the export rushfailedto appear.Despite the fact that some newcomers such as CULines and Allseas have dropped outof the Asia Europe trades already,the big carriers this year nevertheless reduced thenumber of westbound departures ahead of the holiday due to a lack of cargodem
41、and.Maersk and MSC continue to implement blank sailings between the Far East andNorth Europe as a consequence of forecasted reductions in cargo demand.All sailingsof the AE1/Shogun loop were cancelled in January.This service offered a lastdeparture from Ningbo on 30 November and it had no sailings s
42、cheduled forDecember,Januaryandthe first halfofFebruary.Unlesscancellationskeep coming,the service should resume with the 15 February departure of the 13,000 TEU MSC KATIE from Ningbo.Maersk and MSC fear that,despite the temporarily suspension of theAE1/Shogun loop,there will still not be enough exp
43、ort cargo in China to fill all other sailings.Following 2 suspensions in January the carriers confirmed the voiding of 2sailingson February7thand14thfrom Shanghaionthe AE55/Griffinloop due to upcoming ChineseNew Yearlull.The 2M partners reduced their sailings on their Far East Europe/Med trade by 24
44、%.The OCEAN Alliance has made similar efforts,by reducing the number of westboundvoyagesby 23%.THE Alliance has the largest percentage ofvoided sailingsat 36%.The big carriers do not only skip sailings to adjust capacity supply to the lower cargo demand,but also to avoid a further erosion of spot oc
45、ean freight rates from China.Sofarhowever,the downward pressure on rates continues.Capacity 1/29Source:AlphalinerDGF Global Forwarding|OFR Market Update|February 2023The three big carrier alliance plan to skip 27%of their originally scheduled Asia Europe sailings in the first seven weeks of this yea
46、r UNCLASSIFIED(PUBLIC)Capacity 2/210Source:Alphaliner,Dynaliners,CarriersDGF Global Forwarding|OFR Market Update|February 2023Hapag Lloyd will close its standalone China Singapore North Europe China Germany Express service(CGX)in February.The loop is a fast connection from the FarEast to the German
47、market and it is primarily operated with classic panamax tonnage of 4,050 5,100 TEU.As an alternative the carrier will offer a new Far East NorthEurope FE9 loop.Unlike the Hapag Lloyd operated GCX,the new offer will be ensured through slots on the CMA CGM-run FAL3 service,which is part of the OCEANA
48、lliance portfolio.Poorcargo demand from Chinaandlowspot freight rate haveprompted Hapag Lloydsdecision to terminate itsstandaloneexpress service.Maersk and MSC have published new pro forma rotations for their 5 joint North Europe USA loops of the 2M portfolio.The fleets of 3 services will be expande
49、d with anadditional vessel each.The fleets of 2 services will remain unchanged,but the loop will soon start calling at fewer ports.With these changes,the 2M partners implement aslow-steaming program that is similar to the one announced last month,when the carriers revised 4 Asia US East Coast loops
50、and added extra tonnage.With thesechanges,the carriers plan to save fuel and emissions,keep ships active and also improve schedule reliability.According to MSC,the voyage optimization program has beenprepared in viewofthe implementation ofthe IMOsnewCarbon IntensityIndicator(CII),whichtook force onJ
51、anuary1st.UNCLASSIFIED(PUBLIC)Ports11Source:Alphaliner,Dynaliners,CarriersDGF Global Forwarding|OFR Market Update|February 2023The Port of Los Angeles confirmed it handled 9.9 Mteu in 2022,its 2nd best annual performance but a drop of 7.2%on the previous year,as congestion and labournegotiations pus
52、hed carriers to diversify their US calls.Los Angeles saw a 9.5%fall in imported containers in 2022 versus the previous year,while the number of exportedboxes fell 4.7%compared to 2021.Despite the decline,the port retains its title of the busiest US container port for the 23rd consecutive year.The Po
53、rt of New York andNew Jersey overtook the Port of Long Beach as the second ranked US container port earlier in the year as carriers shifted away from the problem-hit west coast.The eastcoast ports monthly throughput has actually exceeded that of Los Angeles and Long Beach in recent months.However,th
54、e LA port authority,announcing the latest results,confirmed it remained the countrys largest container handler in 2022.The port of Singapore handled 37.3 Mteu of containers in 2022,a drop of 0.7%from 2021s record high.The result confirms Singapores position as the 2ndlargest globalcontainer port in
55、2022.However,the gap is expected to have narrowed with its nearest competitor-and number three ranked port Ningbo-Zhoushan.Containerthroughput at Ningbo-Zhoushan reached31.2Mteuin the first elevenmonthsof the year,a 7.8%increaseyear-on-year.Meanwhile,full-yearresults are still awaitedformanymajorChi
56、neseports.Howevergovernmentsources earlierthismonth confirmed Shanghais2022throughput as47.3Mteu,slightly higherthan in 2021,keeping it firmly at the top ofthe rankings.Rules&RegulationsMediterranean to become SECA:As from 1 May 2025,the Mediterranean will become the next Sulphur Emission Control Ar
57、ea(SECA),thereby joining the existing NorthAmerican and European areas.These have been established by the International Maritime Organizations Marine Environment Protection Committee.In contrast to theglobal standard of0.5%sulphur in marine fuels,the SECAs require marine fuel with a maximum of0.1%su
58、lphur.United Arab Emirates Attestation of Import invoices from MOFAIC Authority:The Ministry of Foreign Affairs and International Cooperation(MOFAIC),United ArabEmirates has introduced a system for electronic attestation of Import commercial invoices.Effective 01 February 2023,all Import commercial
59、invoices will need to beattested from MOFAIC for Customs Declarations with Dubai Customs,upon arrival at any port of entry into Dubai.Failure to comply,will result in a penalty of AED 500/-byMOFAIC.This requirement will be applicable forallmodes oftransport.UNCLASSIFIED(PUBLIC)Ocean Schedule Reliabi
60、lity 12Schedule reliability continues to trend upwardsSource:SeaIntelligence,DHLComing in at 56.6%schedule reliability surpassed the 2021 and 2020 Novemberlevels.While improving Asia-Oceania is still the trade with the lowest reliability(31.8%)whileSouthAmerica-Medcontinuesto registerthebest perform
61、ance(80.2%).Also on the Transpacific Eastbound reliability continues its upward trajectoryreaching40.6%to theWest Coast and35.5%to theEast Coast.Performance on the Asia-North Europe trade is improving at a slower pace thanon the Transpacific and now stands at 47.8%.Also the Transatlantic went upslig
62、htlyto 37.8%onthewestboundleg andto 49.0%ontheeastboundleg.The Asia-South America trades improved rapidly to 51.6%on Asia-ECSA and52.8%onAsia-WCSA.Provided that no major disruption happen over the coming weeks schedulereliability is expectedto revert to full normalizationby theendof Q1 thisyear.SCHE
63、DULE RELIABILITY(%)303540455055606570758085AFMDJAMJJSON20022DGF Global Forwarding|OFR Market Update|February 2023UNCLASSIFIED(PUBLIC)Did You KnowTop Container Line OperatorsDGF Global Forwarding|OFR Market Update|February 202313Many carriers have used their extraordinary financial results
64、 in the last two years to expandtheir fleets.MSC became worlds largest container carrier last January,having increased its fleet by amassive 411000 TEU in 2021.Over the course of 2022 the carrier has added another321500 TEU and gown 7.5%YoY.The growth was mainly due to the acquisition of second-hand
65、 tonnage,as MSC“only”received 83600 TEU in newbuildings.Having just bought theSOVEREIGN MAERSK(9600 TEU),once the largest container vessel in the world,the carriercontinues its buying spreedespite weaker market conditions.Nevertheless,the number of second hand vessels changing hands dropped by 50%in
66、 2022,bringing the market back in line with averagesseen over the last decade.In the Top-5 carrier segment MSC and CMA were able to gain market share at the expense ofCOSCO and Maersk.The gap between MSC and the number 2,Maersk,is now 379000 TEU and is further growing.During 2022 Maersk had re-deliv
67、er a significant number of chartered tonnage and thereforelost 61700 TEU.In absolute figures CMA CGM recorded the second largest capacity gain after MSC(+225268TEU).COSCOs fleet has shrunk for the second year in a row.At 885000 TEU the carrier howeverhas at the moment the industrys second largest or
68、derbook.MSC again strongest grower in 2022Source:Alphaliner,DynalinersUNCLASSIFIED(PUBLIC)SUBSCRIBE TO OUR EMAIL ALERTSReceive our Air&Ocean Freight market updates and exclusive industry content directly in your inbox.STAY INFORMEDSTAY IN TOUCH WITH THE EXPERTSARE YOU READY TO MOVE FORWARD?TALK TO A
69、 LOCAL FREIGHT FORWARDING EXPERTFind their contact details on the DGF Station Finder and let us simplify global trade for you.SPEAK WITH US GET A FREE,INSTANT QUOTATIONCompare rates&transit times for air,ocean and rail freight on myDHLiQuote+Book.GET A QUOTEUNCLASSIFIED(PUBLIC)BACK-UP15UNCLASSIFIED(
70、PUBLIC)Market outlook February 2023 Ocean Freight rates additional trades(1/2)16Source:DHLEURO-AMLA+MXAMLA:Further rate reductions on both coasts.Capacity is no major issue.MX:Market more stable than AMLA,with rate extensions and some smaller scale reductions or elimination of PSS surcharges.Capacit
71、y is no major issue.EURO-MENATspace and equipment is available.Demand and rates to Middle East remain at a stable level.Capacity into East Med available,along with a slight downfall in rates.EURO-SSASouth Africa:Schedule reliability is still affected by various incidents(strike actions in South Afri
72、ca,industrial action in Rotterdam,heavy weather conditions in the Bay of Biscay and further operational delays in Cape Town).Situation is getting serious again,however,carriers worked out a revised schedule to catch up.West Africa:space constrains softening and carriers are able to offer allocation
73、on shorter terms.Still a pre-booking period of a couple of weeks in advance needs to be considered.Congestion situation in major transshipment hubs remains stable.East Africa:space situation is softening.Congestion in the major transshipment hubs is easing up.AMNO-MENATCapacity is opening up for ser
74、vice to Mideast and North Africa,and carriers are hinting at softening rates.Further improvements on services available to Mideast with port Charleston being added to the Indamex2(CMA and Hapag)service direct to Jeddah,as of mid-January.AMNO-SSACapacity is opening up for service to East,South and We
75、st Africa,and carriers are hinting at softening rates.AMNO-AMLAFlexible pricing on NACs for short term/Q1 validities.No GRIs expected at this point as market conditions have slightly shifted to space availability.Congestion at USGULF easing as import volumes are not clogging terminals.Though service
76、s are still not weekly for some carriers.Carriers seeking support to WCSA,especially to Chile&NOR equipment back to LATAM.HPL promoting CH for allUSA export moves.DGF Global Forwarding|OFR Market Update|February 2023UNCLASSIFIED(PUBLIC)Market outlook February 2023 Ocean Freight rates additional trad
77、es(2/2)17Source:DHLEURO MED-AMNOWeak demand across the MED.Congestion in the USA still affecting overall schedules.Rates stable.EURO MED-AMLAECSA and WCSA trade are both stableEURO MED-ASPA and MENATASPA:rates reductions depending on the service and allianceMENAT:stable with slight softening of rate
78、sEURO MED-SSArates reductions depending on the service and allianceASPA-SPACMarket recovery after CNY expected to be slower this year compared to previous years.MSC plans to upsize their Panda service after CNY from 3000 TEU vessels to 4000 TEU vessels.Extra capacity will be available in market,howe
79、ver other carriers might take action to do blank/void sailings in order to control the capacity.Rates are expected to further decrease in 1st half of February but could pick up again in 2nd half of February when factories reopen and volumes increase again.DGF Global Forwarding|OFR Market Update|Febr
80、uary 2023UNCLASSIFIED(PUBLIC)MENAT ExportsIntra Gulf&ISC:Space open and carriers are eager to support new business.Asia:Open allocation offered by carriers.Rates continue to decrease.Oceania:Space for Australia&New Zealand has opened up for all carriers with freight rates reaching pre covid levels.E
81、urope&MED:Space and allocation open with freight rates expected to be remain stable for next 2 quarters.Africa(West&South):Congestion has eased at most ports.However occasional delay for cargo routed via Port Tangier to be expected.Rates remain stable.Africa(East):New capacity added on this trade ca
82、using rate reduction.Bookings to TZ continue to be a challenge due to congestion.AMNO:Space on USEC and USWC is available.IN2 service will call JED which becomes the only direct service to USEC.FAK rates remains above pre covid levels however carriers aggressively pricing NAC deals.AMLA:ex Gulf:Spac
83、e available with most carriers.Market outlook February 2023 Ocean Freight rates additional trades18Source:DHLDGF Global Forwarding|OFR Market Update|February 2023UNCLASSIFIED(PUBLIC)2.6 mTEU+3.3%6.7 mTEU+3.8%Market volume 2022 202619Source:Seabury Dec22 updateN O R T HA M E R I C AI n c l.M E X I C
84、O4.6 mTEU+1.8%1.6 mTEU+2.1%1.7 mTEU+2.3%1.7 mTEU+2.5%N O R T HA M E R I C AI n c l.M E X I C OL A T I NA M E R I C AE U R O P EI n c l.M E D15.6 mTEU+3.1%4.9 mTEU+1.5%3.6 mTEU+1.9%23.8 mTEU+3.6%1.5 mTEU+2.7%6.3mTEU+4.2%F A R E A S TI N T R A A S I Aexcl.Oceania42.1 mTEU+3.5%3.0 mTEU+4.9%1.6 mTEU+3.0
85、%L A T I NA M E R I C AM I D D L E E A S T&N O R T H A F R I C AGLOBAL CONTAINER TRADE 140.7 mTEU 2022e+3.3%CAGR 2023e 2026e3.2 mTEU+3.3%3.3 mTEU+3.1%I N T R A M E N A T2.7 mTEU+3.4%DGF Global Forwarding|OFR Market Update|February 2023UNCLASSIFIED(PUBLIC)State of the industry Ocean Carrier alliances
86、20HAPAG-LLOYDONEYANG MINGHMMTHE ALLIANCEOCEAN ALLIANCEOOCLCMA CGMCHINA COSCO SHIPPINGEVERGREEN2MMAERSK LINEMSCSource:CarriersDGF Global Forwarding|OFR Market Update|February 2023UNCLASSIFIED(PUBLIC)Acronyms and Explanations Ocean Freight glossary21AMLALatin AmericaOWSOverweight SurchargeAMNONorth Am
87、ericaPHPhilippinesARArgentinaPMA-Pacific Maritime Association ASPAAsiaPacificPNWPacific North West BRBrazil Ppt.Percentage pointsCAGRCompound Annual Growth RatePSWPacific South West CENACCentral Amercia and CaribbeanQoQQuarter on quarterCNCCNC Line(Cheng Lie Navigation Co.Ltd.)SAECSouth America East
88、 CoastDGDangerous Goods SAWCSouth America West CoastDWTDead Weight Tonnage SOC-Shipper Owned ContainerEBEastboundSOLAS Safety of Life at SeaECSAEast Coast South America(synonym for SAEC)SPRC South Peoples Republic of China South ChinaECRS-Emergency Cost Recovery SurchargeSSASub-Saharan AfricaEGLVEve
89、rgreen Marine CorpSSLSteam Ship LineEUROEuropeTThousandsGRIGeneral Rate IncreaseTA-Trans AtlanticHMMHyundai TEUTwenty foot equivalent unit(20 container)HLHapag-LloydTSATrans Pacific Stabilization AgreementHSFOHigh-Sulphur Fuel Oil(3.5%Sulphur)USGCUS Gulf CoastHSUDHamburg Sd US FMCUS Federal Maritime
90、 Commission HWSHeavy Weight SurchargeUSECUS East CoastIAIntra AsiaUSWCUS West Coast IPBCIndia Pakistan Bangladesh Ceylon(=Sri Lanka)VGMVerified Gross Mass IPIInland Point IntermodalVLCSVery Large Container ShipISCIndian Sub Continent(synonym for IPBC)VLSFOVery Low-Sulphur Fuel OilMEA-Middle East and
91、 AfricaVSAVessel Sharing AgreementMENATMiddle East and North AfricaWBWestboundMLMaersk LineWCSAWest Coast South America(synonym for SAWC)mn MillionsWHLWan HaiMoMMonth-on-MonthWRSWar Risk SurchargeNOONon-operating(vessel)ownersYMLYang Ming Line NOR-Non-operating reeferYoYYear-on-YearOCRSOperational Cost Recovery surchargeYTDYear-to-DateOOCLOrient Overseas Container LineTHEAThe AllianceSource:DHLDGF Global Forwarding|OFR Market Update|February 2023