Norfolk Southern and the Port of Virginia are not only targeting importers using trans-Atlantic services from Europe and Asia, but also exporters moving goods through Memphis, like the cotton industry.
Yang Ming echoed the warnings of its competitors, saying consumer spending power has fallen since the fourth quarter of last year due to inflation while high inventory levels have also affected demand.
Shippers are showing “healthy adoption” of a wide variety of digital transformation projects, according to new research from S&P Global Market Intelligence.
Carriers’ record container ship capacity on order is being led by MSC, which will grow its fleet – already the world’s largest – by almost 40 percent over the next two years.
The post-pandemic recovery of China’s economy following the lifting of restrictions late last year is sparking increasingly optimistic expectations for the air cargo market in 2023 despite a challenging start to the year.
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