The information in the first 10 days of March 2023 shows that the slight improvement in the air transport market as production in China has increased again, but demand in ASEAN and neighboring markets remained weak as most industries saw a sharp drop in export orders from the EU-US market bloc. Along with China's efforts to restore production, e-commerce and a more vibrant global travel season from the second quarter are expected to reinforce the optimistic signals for the global aviation market
Earlier, in its latest weekly market report, data provider TAC Index indicated that the overall Baltic Air Transport Index including freight rates offered by forwarders increased by 3 .5% for the week to March 6, 2023.
“After a long period of falling spot rates and contracts being renegotiated at lower levels, the market may finally bottom out and gradually rise again, as China opens its market up,” TAC said. Schools and shipping are busy in the second quarter.”
In fact, spot rates and shipping volumes increase as production in China gradually recovers.
Elsewhere, freight forwarding company Flexport also recorded an improvement in demand. Accordingly, the demand for transpacific eastbound air transportation from northern China is continuing to increase leading to limited capacity.
“The main contributing factor is the increase in demand in e-commerce freight. As a result, freight rates have increased in the first week of March 2023,"-Flexport said.
The company said supply from southern China is scarce while demand is growing in the market, leading to higher freight rates from last week.
On the other hand, demand from Taiwan, Korea and Southeast Asia is still weak and needs more time to catch up.
Many ASEAN member economies are export-oriented and highly influenced by external factors. Weak demand led to a decrease in orders from large and traditional markets in Europe and America, which directly impacted the air transport market connecting to ASEAN. However, some optimistic signals from the Chinese market - the largest and nearest partner of ASEAN countries, plus a "new wind" from Oceania markets are expected to help the market prosper. next month.
From the Americas, demand has remained stable while demand from Europe has increased along with fluctuations in freight rates.
Outside the United States, global demand for Chinese products is hitting new highs. Despite being a major target of U.S. tariffs, China has strengthened its trade relationships across Africa, Southeast Asia, and Europe in 2025. While China cements its role as a global export leader, the U.S. is increasingly shifting its focus toward self-reliance.
The “China +1” strategy, once seen as a temporary plan to diversify production outside of China, has now evolved into a long-term restructuring of global supply chains. Increasingly
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.
Recently, Glotrans Vietnam once again affirmed its capability in the field of Project Cargo transportation by successfully completing a special shipment from Shanghai, China to Cat Lai Port, Ho Chi Minh City.
In the joyful spirit of celebrating Vietnamese Women’s Day on October 20th, Glotrans Vietnam organized a warm and intimate ceremony to express appreciation to all female staff across the system. The event was a heartfelt thank-you to the wonderful women – the “flowers” who contribute to the success and unity of the Glotrans family.
Recently, Glotrans Vietnam organized a warm and joyful birthday celebration for employees born in October across all branches and offices nationwide.
Company T (Plaintiff – the Insured) entered into an insurance contract with Company B (Defendant – the Insurer). After the insured event occurred, the Insurer alleged that the Insured had violated its obligation to prevent and mitigate losses. The Arbitral Tribunal acknowledged that such an obligation exists but concluded that the Insured did not breach it.
Under the insurance contract, the premium was to be paid in three installments, and in all three, the insured party was late in payment. When a dispute arose, the insurer (Defendant) argued that the insurance contract had terminated before the insured event occurred due to the late premium payment and therefore refused to make an insurance payout. However, the Arbitral Tribunal held a contrary view.
Company Q (Plaintiff – the Insured) and Company B (Defendant – the Insurer) entered into an insurance contract. After an insured event occurred, the parties could not agree on the value of the loss and therefore conducted an assessment. The unilateral assessment conducted by the Insurer was not accepted, while the independent assessment was only partially recognized.
