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Traffic through Panama and Suez Canals - critical arteries of global trade - dropped by over 50% by mid-2024.

2024 has been a year characterised by shippers’ extensive frontloading and ensure enough goods were on inventory.

Spot ocean rates had declined by over 20% by mid-August from their peak in early July

Ocean saw volume growth & higher freight rates, primarily in Asia exports, reflecting increased supply chain pressure

ONE has more than doubled its profit forecast for FY22024 to $2.75 billion from the earlier estimate of $1 billion

Capacity is expected to exceed 30 million TEU at the end of third quarter and hit 30.5 million by the end of 2024

Importing goods on Far East-Europe trade using the spot market now costs an additional $6.97mn/1,000 containers shipped

Ukraine exported an average of four million tonnes of grain per month during January and February 2024

CMA CGM was the most reliable top-13 carrier in January with schedule reliability of 54.7%

Asia-Mediterranean/Black Sea recorded the steepest drop in schedule reliability from 61.9% in December to 39% in January

Spot rates from Far East into the U.S. have softened since last round of GRIs were implemented at the start of February

Europe-Indian Subcontinent trade is by far the most impacted; trade between Far East and North America least impacted