The April edition of the container market global forecaster by Container xChangestudies the key developments from the first three months of 2023 (January – March) and reflects on the forecasts for the coming quarter(s). The forecaster is a result of primary and secondary research including and not limited to our platform data, customer interactions, and industry surveys over the quarter of January-March 2023, reports Xinde Marine News.
Improvements
Shipping Industry professionals anticipate market improvements already in Q2 2023
The majority of those surveyed are hopeful of a better peak season in 2023 and expecta revival of container rates leading up to the peak season,Container Price Sentiment Index (xCPSI) moves from negative to positive readings at an all-time high in April.
Shippers delay contract negotiations as contract rates are still higher than the spot rates
Container price volatility eases in Northeast Asia. North America witnesses the biggest drop in container prices (20 ft DC) in the first quarter of 2023, the global average decline accounts for 14% (20 ft DC)
Hamburg, 6 April 2023:The supply chain industryis hopeful of a better peak season this year and expects freight demand recovery in the Q2 of 2023, according to the recently published monthly container market forecaster for April by the online logistics platform, Container xChange.
The container price sentiment index (xCPSI), a sentiment analysis tool by Container xChange that concurrently surveys supply chain professionals on their short-term price expectations, continued to show negative readingsuntil mid-March. But the results consistently turned positive,reaching an all-time high at the beginning of April, when the index started showing confidence building for the coming quarter.
While the industry sentiment is gradually turning positive, there have been many headwinds in the shipping sector in Q1.
“The global container logistic ecosystem is like a spider’s web. One disruption does not linearly impact the knot. Instead, every disruption reverberates across the web—sometimesin unexpecteddirections. The increase in FED rates, the banking sector crisis, the strikes might seem concentrated in one region, but they have their impact across all tradelanes .” shared Christian Roeloffs, cofounder and CEO, of Container xChange as he commented upon the current state of the container shipping industry.
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Source: Xinde Marine News
