One million TEUs of container lines' capacity could be idle by 2023 as demand falls, freight rates fall and economic confidence deteriorates.
Freight platform Xeneta said on its 2023 outlook that ocean freight volumes could drop by up to 2.5% by 2023 in an extremely challenging market environment.
Xeneta CEO Patrik Berglund said: “The cost-of-living crisis is eating away at consumer spending, causing consumers to reduce demand for containerized goods. With no sign of a global panacea to fix that, we expect ocean freight volumes to drop, maybe around 2.5%. That said, if the economic situation deteriorates further, it could be even more.”
Exacerbating the economic difficulties facing the market, the global container fleet is expected to grow next year, with an additional 1.65 million teu capacity joining the fleet.
“Some [older vessel] demolition will slow that growth, but we still forecast a 5.9% increase in capacity. Berglund said even if the number of demolitions doubles from our current forecast, the container shipping industry will still have the potential to expand by nearly 5%."
Berglund says falling demand and increasing capacity is a classic recipe for overcapacity, a factor that Xeneta predicts will lead to up to 1 million teu idle capacity, "maybe even more.” Current fleet idleness is close to zero after companies hunted for ships to operate during the recent pandemic-induced freight market surge.
“Carriers have proven adept at protecting and increasing rates during COVID, but with overcapacity and easing port congestion, on most major trade routes, they will must fight each other in 2023” Berglund said.
Spot market rates have fallen and may return to pre-pandemic levels on some routes by 2023, and long-term rates will plummet as the market's top fixed contracts expire and
their replacements reflect new market realities, Xeneta said.
“For the upcoming contract negotiations, it is imperative to keep an eye on the latest market data to achieve optimal value. However, those negotiations will be difficult for all parties. Carriers will need volume, but at the same time, shippers will not have the bulk to get the best rates. What we can see is that the freight forwarders are the big winners, as they can find a hot spot, serving SMEs while playing the short-term market with other players transportation. Despite that, there are both opportunities and challenges ahead, in the short and long term,” Berglund said.
The 15th WCA Worldwide Conference 2026, organized from 9 to 13 March in Singapore, successfully brought together freight forwarding and logistics companies from across the globe. Hosted in one of Asia’s leading logistics hubs, the conference attracted thousands of freight forwarders, logistics enterprises, and supply chain professionals from many countries worldwide.
Air cargo is heating up again in a very concrete way: speed is no longer just a company advantage—it is increasingly a national advantage. IATA recorded strong global air cargo growth and a record year in 2024, and in 2025 several months continued to set new highs in demand measured by CTK, suggesting this is not a short-lived surge.
Air logistics is entering a new cycle. International demand is rising fast, shippers are prioritizing speed and reliability, and exporters face tighter scrutiny on documentation and origin. In this context, the real question is no longer whether Vietnam should expand air logistics, but how to build capacity in the right architecture—one that scales volumes while strengthening Vietnam’s role in regional supply chains.
On the morning of March 25, 2026, Glotrans Vietnam – Hai Phong Branch organized a talkshow at the Faculty of Economics, Vietnam Maritime University under the theme “Glotrans & Career Compass.”
On March 22, 2026, Glotrans Vietnam attended the 2nd Congress (2026–2031 term) of the Hanoi Logistics Association (HNLA) under the theme “Adaptation – Innovation – Expansion.” The event brought together representatives from government authorities, industry associations, and the nationwide logistics business community.
Concluding the WCA Worldwide Conference 2026 in Singapore, Glotrans Vietnam not only expanded its connections within the WCA network but, more importantly, gained clearer insights into how the global logistics market is operating and evolving.
The shipment of food additives was transported in container No. FCIU3301688 (20’), under B/L MPRSMUM1806, on the voyage from Nhavasheva Port (India) to Dinh Vu Port (Hai Phong, Vietnam) on 29/04/2017.
Company T (Plaintiff – the Insured) entered into an insurance contract with Company B (Defendant – the Insurer). After the insured event occurred, the Insurer alleged that the Insured had violated its obligation to prevent and mitigate losses. The Arbitral Tribunal acknowledged that such an obligation exists but concluded that the Insured did not breach it.
Under the insurance contract, the premium was to be paid in three installments, and in all three, the insured party was late in payment. When a dispute arose, the insurer (Defendant) argued that the insurance contract had terminated before the insured event occurred due to the late premium payment and therefore refused to make an insurance payout. However, the Arbitral Tribunal held a contrary view.
