The efficiency of using container ships globally is at a low level, especially on the trans-Pacific and Eurasian routes, causing the container freight rates to drop continuously in the past time.
Sea-Intelligence noted in a recent analysis that "Global demand continues to decline and whether we calculate growth in TEUxMiles or as a percentage year-to-date in 2019, one thing is clear. It's clear: the supply/demand balance is under a lot of pressure."
The latest demand data from the Bureau of Container Trade Statistics (CTS) shows that in August 2022, year-over-year growth was lower than that seen in 2019.
Sea-Intelligence further noted "In order to maintain very high spot rates, nominal usage exceeding 92%-93% needs to be maintained on the transpacific service, and with threshold levels on the Asia-Europe route is 85%." However, across the trans-Pacific, capacity utilization fell below 90% for most of 2022, and the price drop continued.
On the Asia-Europe service, train utilization has decreased further. As we can see in Figure 1, the 2022 utilization in Asia-Europe has been consistently below the 85% threshold, which is unlikely to trigger a rate increase and although utilization has improved in August to 74% from 72% in July; the 2-month average continued to decrease from 76% to 73%.
This latest data simply reconfirms what has happened since the beginning of 2022, there is no fundamental support for rates to continue to soar across the trans-Pacific and Asia- Europe.
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Recently, Glotrans HCM held a regular Trade Union meeting, combining voting and honoring typical employees in the first quarter of 2025 – individuals who have shown efforts, responsibility and positive working spirit in each task.
This July, a sweet and laughter-filled birthday party was held at the HCM branch office to celebrate employees whose birthdays were in the month, with the participation of the Board of Directors and all employees.
On June 22–23, 2025, Glotrans was honored to participate in the 7th Global Logistics Cooperation Conference (OLO), held in Ho Chi Minh City. This annual event, organized by OLO, brings together hundreds of freight forwarding companies from over 100 countries worldwide.
