Page 22 - LUA January - February 2023 Magazine

NEWS

Carriers losing control of the market: Drewry

deep-seated instinct to preserve steps to reduce capacity before the in the industry, that consolidation and
A volumes has kicked in, leaving market got completely out of hand. more efficient carrier alliances would
carriers without control of the market, "We were wrong (although we always help change old habits. That was
says Drewry in its latest Container said carrier behaviour was a major wrong too." It is now clear, Drewry
Forecaster report. "We gave carriers risk to our forecasts). "Over the says in its recent report, that carriers
too much credit by thinking they course of this extraordinary phase have lost control of the container
would proactively manage capacity," in container shipping’s history, we market, have failed to proactively
says the report. Drewry was fairly convinced ourselves, after much manage capacity, and will act on
confident, up until a few months ago, dialogue with various stakeholders capacity only when they are forced to
that carriers would take necessary that a structural change had occurred do so by heavy losses.

Chinese container rates drop as Healthcare supply

Lunar New Year cargo rush fails chain management
market is set to witness
a CAGR of 9.71% during
he bad news for liner operators loading in China will normally end
Tappears to have no end, according 4 percent higher. This year, both spot 2023-2033: Report
to a recent update from BIMCO. "In a and average rates, however, continue to
normal year, the weeks leading up to fall." The China Containerized Freight
the Chinese New Year (CNY) bring an Index (CCFI) has seen a 50 percent drop
increase in volumes and freight rates. So since February 2022 and stood at 1,730
far, however, the lead-up to CNY in 2023 seven weeks ago. Rather than stabilizing
has been the worst in 13 years. Spot and then climbing towards CNY, it has
rates for containers loading in Shanghai continued to fall. In the first week of
will normally be 12 percent higher January, it hit 1,271 and has dropped
just before CNY than 10 weeks earlier. by a further 27 percent since mid-
Similarly, average rates for all containers November, the update said. he healthcare supply chain
Tmanagement market size is estimated
to be USD 2,528.6 million in 2022 and
is expected to witness a CAGR of 9.71%
during the forecast period 2023-2033.
The growing implementation of the GS1
set of standards in many countries and
rising pressure on healthcare providers
are factors contributing to the market
growth. These insights are based on
the recently released "Healthcare
Supply Chain Management Market by
Product, Delivery Mode, End User, and
by Region - Global Forecast to 2022-
2033" report, which has been added to
ResearchAndMarkets.com's offering.

20 LUA JANUARY - FEBRUARY 2023