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.
Vietnamese food and spice producers are making steady progress in international markets by focusing on “real quality.” By combining authentic local flavors with strict international certifications, they are strengthening their competitiveness and building trust among global buyers.
According to recent data from U.S. Customs and Border Protection (CBP), as of April 5, 2024, the United States has collected more than USD 500 million from newly imposed retaliatory tariffs—bringing the total revenue since 2018 to over USD 21 billion.
In recent years, Vietnam has continuously strengthened its international partnerships and fostered long-term, sustainable relationships with countries around the world, aiming to boost economic growth through trade and global goods exchange.
Glotrans Holiday Notice – Vietnam Independence Day (02/09/2025) Dear Valued Customers and Partners, Glotrans would like to inform you of our Vietnam Independence Day holiday schedule as follows:
On August 15, 2025, the Glotrans family proudly celebrates the 16th anniversary of the company’s establishment (2009 – 2025) – a remarkable milestone that marks our journey of formation, growth, and continuous advancement in both domestic and international logistics markets.
"One Team – One Will – One Journey" – this is not just a slogan, but the very spirit that ran through the 2025 Team Building trip of the Glotrans Da Nang and Glotrans Quy Nhon family.
