Tomorrow is VE Day, and this bank holiday marks 75 years since the end of WW2, and this year also marks 17 years since TPS Global began trading.
The office and warehouse will be closed for the Bank Holiday Friday. Although celebrations will be on hold until we’re all back together. Normal business hours resume on Monday 11th May
The last 2 months have been challenging for the industry, but there is a glimmer of hope ahead, with the global easing of pandemic lockdown restrictions. This is our update on the current freight position.
Air Freight – there is a feeling that we may have now reached the bottom, cargo volumes fell rapidly in March and capacity in April was down by nearly 50% on last year. But we are seeing both volume and capacity creeping up slowly week on week.
Rates do remain very high, cargo out of China has increased more than 400% since January. But rates seem stable and together with capacity showing a slight recovery. Passenger jets are having seats removed to make space for cargo, a far cry from the situation not so long ago when airlines would bump cargo without a second thought to accommodate passenger luggage.
Sea Freight – despite demand dropping by up to 30% and the price of oil dropping up to 70% we have not seen a change in rates. Blank sailings are still high on the Asia to East Coast South America route and falling slightly on other routes, but repositioning empty containers remains a big challenge.
Therefore to get the best shipping rates in the current market we are recommending consolidation, there are less global carriers operating so our ability to control capacity is better than ever. Although rates are higher, they appear stable, which helps with budgeting and planning movement of goods over the next few months.
Domestic Freight – our warehouse services remain fully operational with a team all able to work and socially distance, we have capacity for both short and long term storage.
Our vehicles and drivers are busy and available – the 7.5 tonne lorry has covered 5522 miles since lockdown! We are operating a contactless service for UK and European delivery services.
We are fully operational and if we can help with any of your business shipping or supply chain requirements speak to one of the team today. You can email sales@tps-global.com or call us on +44 (0)1622 237979
We wish you all a happy and safe Bank Holiday weekend.
