The Stifel Logistics Confidence Index with a score of 45.4 posted its lowest ever total amid a continuing pattern of decline.

Of the four trade lanes covered by the index, Europe to US continues to be the most positive, representing the highest-scoring route across both air and sea.

A strong US dollar against a weakening euro helped to boost westbound transatlantic cargo demand. But Asia-Europe trades declined in both directions.

Within the air freight industry, increasing numbers of passenger planes, combined with what IATA has termed "a tough global economic environment and feeble world trade" is resulting in increasingly poor load factors.

Industry competitors have been protected by low fuel prices, but it is unclear how long this situation will persist. The underlying capacity problem, therefore, remains.

News of Maersk committing to lay-up an 18,000 TEU vessel gives hope that a different approach is being taken to address the overcapacity problem.

On December 7, the world's third-largest container shipping line, CMA CGM, agreed a deal with Temasek Holdings to acquire the struggling Neptune Orient Lines.

Furthermore, news broke on December 11 that Chinese authorities had given the green light for a merger between state-owned giants China Shipping and Cosco.