- Demand is expected to recover thanks to the EU’s plans to reduce imports of Russian crude oil and the easing of lockdown measures in China.
- Sea Freight
- After 17 weeks of consecutive decline starting in Jan., it has turned upward for 3 weeks in a row since the 2nd week of May, with China to lift the lockdown.
- Air Freight
- Since the beginning of ’22, passenger demand has been growing, mainly for international flights, and fares are expected to rise.
- OCED CLI
- 100.2down(-) April
- Manufacturing PMI
- 56.1up(1.3) May
- Oil Prices-WTI
- 114.7up(9.5%) May
The EU plans to cut Russian oil imports by 90 percent by the end of the year and ease the blockade in China are expected to revive demand, with WTI rising 9.5 percent from the previous month.
- 4,208.01up(32.66) June Week 1
- TAC-HKG to EUR, US
6.44down(0.05)8.79down(0.26)July Week 1
- Jet Fuel
- 3.902down(0.012) May
Comprehensive SCFI is expected to be 3,800 in end of '22 and 2,600~3,000 in the 2nd half of '23. And HKG→US air freight rate is expected to be $8.7~11.0 in 2nd half of 2022, HKG→EUR is $5.7~8.1. It is lower than the highest point in 2021, but overall it is high prices.
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