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Global demand measured in TEU declined -3% in March y/y. The growth trend is confirmed but not necessarily a real rebound.


On week 19/2023, global port congestion was set at 1.61M TEUs = 6% of the entire fleet. No major signs of congestion around the world, with dwelling times under control. Still no deal for the US west coast labour agreement.


Global schedule reliability recorded a relatively sharp increase of 7.7% m/m in February 2023 and reached 60.2%, bringing it very close to the 2020 figure for the same month. On an annual level, schedule reliability was a staggering 26% higher.


On TPEB, TAWB, and Asia-North Europe & Med, 20 cancelled sailings have been announced between weeks 21 and week 25, out of a total of 675 scheduled sailings, = 3% cancellation rate. During this period, 65% of the blank sailings will occur on the TPEB, 20% on Asia-North Europe and Med, and 15% on the TAWB.


A stability trend has been confirmed in the past few weeks, and even some positive signs on a few selected trades, except for Trans-Atlantic trade in both directions. Drewry WCI was down 1% on week 20 (w/w) and down 1% on a monthly basis to USD 1719 per FEU.


The trend for all types of traditional fuel is going down. Currently, no drivers in the global bunker market show signs of upward evolution. Therefore, we expect the downtrend to continue in the following weeks.

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