Chinese New Year – Market update III

Sea freight

Although the SCFI freight indicators on SHA-RTM continue to rise by around 3%, some of the major carriers are beginning to project market demand to soften after CNY. Due to the recent COVID outbreak in multiple provinces in China, major alliances are announcing port omits, blank sailings, and multiple service cancellations between week 3 and week 6. These activities will make it difficult for shippers to export containers while maintaining the freight level for the shipping lines. 

Air freight

According to the latest China airline reports, it shows on a MoM basis.

CA–Air China reported an increase in capacity supplied of 4.4% and an decrease in vol international routing of 2.3%.

CZ – China Southern reported -15.18% increase in capacity supplied and a 4.21% decrease in vol international routing

CK–China Eastern reported a 1.27% increase in capacity supplied, but vol info not disclosed.

Airport side on cargo volume

PVG reported a 6.97% increase on international routing

CAN reported a 24.07% increase on international routing

SZX reported a 16.76% increase on international routing

XMN reported a 20.08% increase on international routing

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