Q&A with Joe Rizk, Northlines Business Development Manager for International
Since joining the team in Sydney earlier this year, Joe Rizk, Business Development Manager...
Read moreDue to extreme weather conditions, it is advised that there will be instances of service disruptions around Regional Victoria and into and ex Tasmania. At this stage, we anticipate full service to return to normal by Friday 6 September.
The July to September quarter did not see the peak in demand volumes that are usually seen in prior years. Prompted predominantly by improved customer inventory management and a subdued growth environment following the pandemic-fueled years.
Seasonal demand progressively weakened moving through September leading up to China’s Golden Week holiday, (starting 29 September), pushing SPOT rates down and increasing the frequency of blank sailings from carriers in response to weakening demand. Ocean freight rates continued to sink, despite capacity cuts, reaching their lowest levels since 2019. The industry faces challenges with declining ocean rates, while a cautious approach is taken regarding peak season prospects.
The October to December quarter has started slowly as China returns from Golden Week celebrations. Many customers held back orders, and orders that were placed are, in most part, pending ETDs out of main China ports as at early to mid-October. We predict many carriers will be using this quarter to balance the network, considering forecast reductions in demand and a reduced workforce, to handle cargo operations and foresee FAK rates on North East Asia to East Coast routes increased by the major carriers to improve operational profitability.
The decarbonisation journey pushes box ship orderbooks to new heights with:
Since joining the team in Sydney earlier this year, Joe Rizk, Business Development Manager...
Read moreTash joined the business in 2023 as part of Northline’s Graduate Program. With prior experience...
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