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MAERSK: The December 2021 report of the Indian Subcontinent and Middle East Market

MAERSK: The December 2021 report of the Indian Subcontinent and Middle East Market
photo: Maersk´s press materials/MAERSK: The December 2021 report of the Indian Subcontinent and Middle East Market
23 / 12 / 2021

The market across essential economies in West and Central Asia continues its reaction to increasing demand for consumer goods. Competition in the infrastructure sector continues to cause an impact on consequential ports across the global network. Roughly 10%-20% of the international capacity limits get wasted because of long waiting durations, despite all the vessel capacity getting utilized. The tender season is currently underway for many customers, which means there is an increase in Ocean rates of 16.3%. Maersk continues to be the most reliable carrier in the region, with schedule reliabilities of 83% for main trade lines between this region and Europe.

Apart from the fear and concerns involving the Omicron mutation of Covid-19, the area has experienced a range of reactions in the logistics sector during the last month. The region experienced a strike of truck drivers, which resulted in disorder in Bangladesh, while in India, a drop in fuel prices brought relief simultaneously for businesses and consumers.
The rail cargo transportation industry is noticing a significant development in infrastructure as the authorities across most countries in this region started to finance dedicated freight routes and their expansion.
By 2022, Chief Executive Officer of Maersk, Soren Skou, acknowledges the global demand for container transportation, and therefore Maersk will work on several developments to boost customers' supply chain experience. The road logistics market in the region gets expected to grow fuelled by the rising demand for consumer products. In India, the market is expected to grow at a compounded annual rate of 8% over the next 5 years, according to the RedCore study. Similarly, rail freight in the region has seen significant developments in expanding network capacity across the region. The Indian Railways had undertaken a series of initiatives to create dedicated freight corridors and get expected to commission the eastern and western corridor projects by mid-2022.

Maersk continues to be the most reliable carrier for the main trade lanes for the region, i.e., between the Middle East to Europe and the Indian Subcontinent to Europe, with schedule reliability of 83% and 66% in October 2021. In comparison, the industry average for the two routes is respectively 62.7% and 53.4%.

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