Carrier and forwarder markets in November were affected by the continuing rise in ocean freight rates, up 1.2% on average after a lull in October. China to U.S. west coast routes were particularly affected, up 4.2% week to week as of Dec 10, and up 23.8% since the end of July. Other routes impacted by increases included China to South-East Asia, likely impacted by the transpacific traffic, and to South Africa which has seen an outbreak of the new Omicron variant. Carriers are likely the primary beneficiaries of these high rates, and the 2M alliance continued the trend of leading the major three in growth, up 6.3% year over year in November. This was led by ZIM and MSC, up 21.7% and 14.3% year over year in the same period. CMA CGM had the top growth rate for Ocean Alliance, up 14.3% year over year, and both CMA CGM and COSCO showed positive import momentum. Unaffiliated liners also saw success, with imports associated with SM Line up 58.0% year over year and Matson up 5.9% year over year. Forwarders are likely in a less advantageous position, caught between shippers and carriers, but some firms still posted strong growth regardless. Imports associated with Ceva Logistics increased by 95.8% year over year in November, while imports associated with Multi Container increased by 50.7% year over year. Amazon also had a strong month, up 88.1% year over year, likely driven by its logistics arm’s integration with its e-ecommerce site, a factor that has recently raised flags from regulators in the EU.
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