Zencargo Market Update: 16th May
May 16, 2022
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May 16, 2022
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In 2021, the global freight forwarding market experienced a 11.2% increase to a total of $284.9bn.
Air freight grew by 14.9% to $128.2bn whereas sea freight grew by 6.6% to $156.5bn.
This means that air freight increased at double the rate of sea freight.
A combination of a shortage of carrier space, port congestion and rate increases on the ocean market has contributed to this shift. The price difference between air and ocean has narrowed over the past year. Therefore, switching to air freight does not seem as costly as it used to be.
Ocean
Air
Central China to USA and Europe
North China to USA and Europe
South China to USA and Europe
Ocean
Ocean
Ocean
Air
Road/Rail
European Bank Holidays
We anticipate a shortage of availability and the occurrence of delays around the bank holiday periods. Plan ahead and allow extra time for your products to be delivered.
May 17th – NO
May 19th – TR
May 21st – ME
May 22nd – ME
May 24th – BG
May 26th – AT, AD, BE, CH, DK, FR, FI, FL, NO, NL, SE
May 30th – GB, HR
June 1st – MD, RO
June 2nd – DE, GB, IT
June 3rd – GB
June 5th – DE, DK, EE, FI, NO, NL, SE, SI
June 6th – AT, AD, BE, CH, DE, DK, FR, FL, HU, IE, LU, NO, NL, SE
June 7th – CH*
June 8th – DE
June 10th – PT
June 12th – RO, RU
June 13th – GR, RO, RU, UA
June 16th – AT, DE, FL, HR, PT, PL
June 22nd – HR
June 23rd – EE, LU, LV
June 24th – EE, LT, LV
June 25th – FI, HR, SE, SI
June 28th – UA
June 29th – CH
*Not in all regions
The route ahead
The information that is available in the Weekly Market Update comes from a variety of online sources, partners and our own teams. Click below to learn more about how Zencargo can help make your supply chain your competitive advantage.
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