April 11, 2024 Dynamic Market for Air & Ocean Freight in Asia-Pacific

In a rapidly evolving global trade environment, the Asia-Pacific freight sector stands as a crucial nexus of commerce.

Shenzhen, China – In a rapidly evolving global trade environment, the Asia- Pacific freight sector stands as a crucial nexus of commerce, driving and responding to changes in economic indicators, manufacturing outputs, and consumer demand. The Dimerco Asia Pacific Monthly Freight Report for March to April 2024 offers a comprehensive overview of the current state and future prospects of the air and ocean freight markets within this dynamic region.

Key findings of the report:

• Economic Growth and PMI Index: A slight increase in the Global Manufacturing PMI, from 50.0 in January to 50.3 in February 2024, signals a modest expansion in manufacturing activity. Concurrently, the Global Composite PMI Output reached its highest point since June 2023, indicating robust economic health.
• Air Freight Market Resilience: Despite challenges such as the Red Sea crisis and labor strikes in Europe, the air freight market has shown remarkable resilience, buoyed by a surge in eCommerce shipments and the finalization of Year 2024 Block Space Agreements, underscoring a bullish outlook for the sector.
• Ocean Freight Dynamics: The ocean freight market is witnessing strategic adjustments, including blank-sailing initiatives and rate disparities, as stakeholders navigate through logistical challenges and demand fluctuations in the run-up to service contract renewals.
• Regional Market Overview: Detailed analyses of key markets, including Taiwan, China, South Korea, Mexico, and Southeast Asian nations, reveal variances in space availability, rate trends, and operational challenges, highlighting the importance of strategic planning and market adaptation.

The Dimerco Asia Pacific Monthly Freight Report underlines the intricacies and opportunities within the Asia-Pacific freight market, providing stakeholders with the intelligence needed to navigate the challenges and capitalize on the emerging trends in this vital economic region.

Reflecting on the strategic adjustments in the shipping industry, Mr. Alvin Fuh, Special Assistant to the CEO at Dimerco, highlighted the shift in operational strategies post-Chinese New Year, “Carriers have scaled back on the blank sailing strategies instituted after the slower post-Chinese-New-Year period. This upward adjustment in fleet deployment contributed to the gradual decrease in market rates for freight originating in Asia after the CNY.”

To receive the full report, please contact us:

Gitte Willemsens
PR & Brand Communications Director
CHARLIE PESTI
Gitte.w@pesti.io

About Dimerco Express Group
Dimerco Express Group integrates air and ocean freight, trade compliance and contract logistics services to help companies compete and win through superior global logistics. The majority of the company’s logistics projects connect Asia’s logistics and manufacturing hubs with each other, and with North America and Europe. This focus makes Dimerco the premier global 3PL at connecting Asia with the world. Founded as an air freight forwarder in Taiwan in 1971, Dimerco now serves customers from 150+ Dimerco offices, 80 contract logistics operations, and 200+ strategic partner agents throughout China, India, Asia Pacific, North America, and Europe.

For further information about Dimerco and its initiatives, please visit https://dimerco.com/

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