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Experts predict that sea freight will continue to decrease in 2022!

Views: 0     Author: Site Editor     Publish Time: 2022-05-31      Origin: Site

Relevant experts summarized the reasons for the increase of sea freight since the outbreak of the COVID-19 as follows:

1. European and American countries' import demand from China continues to rise; 2. The congestion of supply chain nodes from port to inland transportation leads to the decline of effective transport capacity.

Both of these situations have improved since 2022.

First, since the beginning of 2022, with the epidemic of omicron, major countries in Europe and North America have started to adjust their prevention strategies one after another and lift their prevention restrictions. As a result, global maritime supply chain efficiency began to gradually recover as labor supply increased and port congestion in Europe and North America began to relieve.

Secondly, European and American countries' demand for Chinese products will be affected by two aspects this year, and gradually decrease: a.the resumption of work and production in European and American industrial chains will gradually reduce the dependence on China's supply chain; b. the Fed's policy of increasing interest rates will cool the US economy and lead to a decline in aggregate demand. Therefore, under the double impact of shrinking domestic demand in Europe and North America and the recovery of local supply chains, the demand for imports from China in Europe and North America will be lower than in 2021, not higher.

The two major factors that led to the historic rise of sea freight have undergone fundamental changes this year. When the global transportation capacity increases rapidly, and when the demand of Europe and North America for Chinese exports is no longer high, it is not surprising that the sea freight will decrease, and may continue to drop.

Compared with last week, the sea freight of casing centralizers and ESP cable protectors has increased this week. For more details, please refer to the sheet below☟

cementing centralizer-Newland

Weekly Update Sheet of Sea Freight for Single Product 23.pdf



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