Inteligencia De Mercado [July 2023] Quarterly Logistics Market Review and Outlook

Manufacturing continues to contract as services-driven economy recovers.

※ A leading indicator of the economic situation as a result of a monthly survey of more than 400 corporate purchasing/supply managers

70.64상승(2.54)

Oil price down -38.4% from peak (114.67), US-Iran nuclear deal pushes through, neutralizing Saudi Arabia production cuts

SCFI comprehensive index is expected to be 980~1,030 in the 3Q of ‘23 and 1,005~1,010 in the 4Q of '23.
Freight forecast 2nd half of '23 : USWC $1,650 / USEC $2,850 / North Europe $860

[Asia]
Along with the nearshoring trend of shifting plants from China to Mexico.
China’s total investment in Mexico last year approached $500 million, up from $300 million in 2020 and $200 million in 2019.

[Americas]
ILWU and PMA reached a tentative agreement on a new six-year contract covering all 29 ports along the US West Coast.
Both parties said in a joint statement, they will turn out full attention back to the operation of the West Coast ports.

[Europe]
A new FTA between the UK and Australia has come into action from 1 June, removing ‘most’ tariffs on trade between two nations One major aim is to “increase the resilience” of UK’s supply chains by diversifying trade.

HKG-US: 3Q'23 $3.8 to $3.9, 4Q'23 $4.0 to $4.4,
HKG-EUR: $3.6 to $3.8 in 3Q'23, $3.0 to $3.6 in 4Q'23.

[Asia]
Maersk Air Cargo introduces new B767Fs and expands capacity on Asia-US/Europe routes.
Chicago-Hangzhou will increase from 3/W to 6/W, Greenville-Spartanburg-Incheon-Shenyang will increase from 2/W to 3/W, and Billund-Hangzhou will increase from 3/W to 5/W.

[Americas]
Lufthansa Cargo is offering six freighter connections with Boeing 777F aircraft to and from Mexico City's second major airport, Felipe Ángeles (NLU), in the 2023 summer flight schedule.

[Europe]
Airbus’s new level brings the A350F closer to its future rival, the Boeing 777-8F.
The company also revealed that the freighter jet will have a 175-inch (4.44 m) wide cargo door, larger than the 777F.