28 April 2023 – The freight market is picking up, with fully booked ships reported on the first routes from Asia to Europe. And the growing importance of stainless steel scrap for manufacturers is being confirmed more and more – the recycling industry is also increasingly taking up the issue.
Freight market revival: fully booked ships
The upturn in the freight market has recently led to the first shipping companies reporting fully booked ships again on some routes from Asia, such as recently on the Busan, South Korea to Antwerp, Belgium route.
Cargo movements increased significantly in March
Container throughput at the Port of Singapore climbed to a record high of 3.34 million TEUs (Twenty-foot Equivalent Units) in March.
In China, cargo movements climbed to a seasonal record of 2.022 billion tonne-kilometers in March as the industry resumed production following disruptions caused by closures and the pandemic wave.
There has also been an increase in freight rates on the Freightos Baltic Exchange global container index in recent weeks.
Important stimulus for the markets
This revival on the freight market, combined with the in some cases significant increase in container throughput and scarce shipping space, could provide a further important stimulus for the global economy.
BIR: Stainless steel scrap improvement in early 2023
The trade association Bureau of International Recycling (BIR) has recently confirmed our position in various points that there has been a significant upturn in the scrap market in the early months of 2023, especially with regard to stainless steel.
Also some self-proclaimed experts have meanwhile joined our opinion with regard to the development of scrap and stainless steel scrap. As always, we are therefore pleased to receive references for the respective presentations.
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Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.