Europe 2022

This section includes: 

UK - Economic indicators 

UK - National holidays  

UK - Labour productivity  

UK - Labour costs  

UK - Output 2021 and 2022(f)  

UK - Long-lead equipment (LLE) and Supply Chain narrative

UK - Construction health and safety practices and culture  

UK - Macroeconomic overview 

UK - Economic indicators

UK - National holidays

UK - Labour productivity  

UK - Labour costs

UK - Output 2021 and 2022(f) (in millions)

UK - Long-lead equipment (LLE) and Supply Chain narrative 

Long-lead equipment (LLE) lead times have changed drastically since the start of 2022. Suppliers have seen the implications of material shortages, delays and price hikes throughout the supply chain, which is leading to extended lead times and reduced commitment from suppliers for new projects. The key areas in focus are:

1. Demand: The demand for long-lead equipment in the data centre sector has continued to increase in Q3 2022. More data centre and crypto mining providers are joining the market, and this continued demand far outweighs the capacity of the supply chain. Entry onto the production line remains a significant challenge, with suppliers reporting fully booked capacity until Q2 2024. There has been some growth in the development of Tier 2 and Tier 3 suppliers to support this demand. However, it will take time to build an extended supply chain. There has also been no sign of a decline in demand yet in early Q4 2022.
2. Material shortage: Just as material availability started to improve, the further threat of escalation with the Russia-Ukraine conflict has cast further uncertainties of future material stocks and reserves. The supply chain has continued to seek alternative sources of raw materials, and although this has been with partial success, market lead times remain conservative.
3. Freight durations and costs: Heightened by the increase in fuel costs, and compounded by the instability of labour and container availability, freight durations have been particularly volatile in recent times. Early indications from Q4 2022 suggest some stabilization in shipping durations is returning to the market, but the associated costs remain volatile due to the global fuel crisis. As clients consider alternative solutions, it almost becomes cost prohibitive to use quicker forms of transport, such as air freight, due to these increasing fuel costs.

UK - Construction health and safety practices and culture

Belgium - Economic indicators  

Belgium - National holidays  

Belgium - Labour productivity

Belgium - Labour costs  

Belgium - Output 2021 and 2022(f)  

Belgium - Long-lead equipment (LLE) and Supply Chain narrative

Macroeconomic overview 

Belgium - Economic indicators 

Belgium - National holidays 

Belgium - Labour productivity  

Belgium - Labour costs

Belgium - Output 2021 and 2022(f)

Belgium - Long-lead equipment (LLE) and Supply Chain narrative 

Long-lead equipment (LLE) lead times have changed drastically since the start of 2022. Suppliers have seen the implications of material shortages, delays and price hikes throughout the supply chain, which is leading to extended lead times and reduced commitment from suppliers for new projects. The key areas in focus are:

1. Demand: The demand for long-lead equipment in the data centre sector has continued to increase in Q3 2022. More data centre and crypto mining providers are joining the market, and this continued demand far outweighs the capacity of the supply chain. Entry onto the production line remains a significant challenge, with suppliers reporting fully booked capacity until Q2 2024. There has been some growth in the development of Tier 2 and Tier 3 suppliers to support this demand. However, it will take time to build an extended supply chain. There has also been no sign of a decline in demand yet in early Q4 2022. 
2. Material shortage: Just as material availability started to improve, the further threat of escalation with the Russia-Ukraine conflict has cast further uncertainties of future material stocks and reserves. The supply chain has continued to seek alternative sources of raw materials, and although this has been with partial success, market lead times remain conservative. 
3. Freight durations and costs: Heightened by the increase in fuel costs, and compounded by the instability of labour and container availability, freight durations have been particularly volatile in recent times. Early indications from Q4 2022 suggest some stabilization in shipping durations is returning to the market, but the associated costs remain volatile due to the global fuel crisis. As clients consider alternative solutions, it almost becomes cost prohibitive to use quicker forms of transport, such as air freight, due to these increasing fuel costs.

This section includes: 

Denmark - Economic indicators  

Denmark - National holidays  

Denmark - Labour productivity  

Denmark - Labour costs  

Denmark - Output 2021 and 2022(f)  

Denmark - Long-lead equipment (LLE) and Supply Chain narrative

Denmark - Macroeconomic overview 

Denmark - Economic indicators

Denmark - National holidays

Denmark - Labour productivity  

Denmark - Labour costs

Denmark - Output 2021 and 2022(f) (in millions)

Denmark - Long-lead equipment (LLE) and Supply Chain narrative 

Long-lead equipment (LLE) lead times have changed drastically since the start of 2022. Suppliers have seen the implications of material shortages, delays and price hikes throughout the supply chain, which is leading to extended lead times and reduced commitment from suppliers for new projects. The key areas in focus are:

1. Demand: The demand for long-lead equipment in the data centre sector has continued to increase in Q3 2022. More data centre and crypto mining providers are joining the market, and this continued demand far outweighs the capacity of the supply chain. Entry onto the production line remains a significant challenge, with suppliers reporting fully booked capacity until Q2 2024. There has been some growth in the development of Tier 2 and Tier 3 suppliers to support this demand. However, it will take time to build an extended supply chain. There has also been no sign of a decline in demand yet in early Q4 2022.
2. Material shortage: Just as material availability started to improve, the further threat of escalation with the Russia-Ukraine conflict has cast further uncertainties of future material stocks and reserves. The supply chain has continued to seek alternative sources of raw materials, and although this has been with partial success, market lead times remain conservative.
3. Freight durations and costs: Heightened by the increase in fuel costs, and compounded by the instability of labour and container availability, freight durations have been particularly volatile in recent times. Early indications from Q4 2022 suggest some stabilization in shipping durations is returning to the market, but the associated costs remain volatile due to the global fuel crisis. As clients consider alternative solutions, it almost becomes cost prohibitive to use quicker forms of transport, such as air freight, due to these increasing fuel costs.

Denmark - Construction health and safety practices and culture

This section includes: 

Finland - Economic indicators  

Finland - National holidays 

Finland - Labour productivity  

Finland - Labour costs  

Finland - Output 2021 and 2022(f)  

Finland - Long-lead equipment (LLE) and Supply Chain narrative

Finland - Macroeconomic overview 

Finland - Economic indicators

Finland - National holidays

Finland - Labour productivity  

Finland - Labour costs

Finland - Output 2021 and 2022(f) (in millions)

Finland - Long-lead equipment (LLE) and Supply Chain narrative 

Long-lead equipment (LLE) lead times have changed drastically since the start of 2022. Suppliers have seen the implications of material shortages, delays and price hikes throughout the supply chain, which is leading to extended lead times and reduced commitment from suppliers for new projects. The key areas in focus are:

1. Demand: The demand for long-lead equipment in the data centre sector has continued to increase in Q3 2022. More data centre and crypto mining providers are joining the market, and this continued demand far outweighs the capacity of the supply chain. Entry onto the production line remains a significant challenge, with suppliers reporting fully booked capacity until Q2 2024. There has been some growth in the development of Tier 2 and Tier 3 suppliers to support this demand. However, it will take time to build an extended supply chain. There has also been no sign of a decline in demand yet in early Q4 2022. 
2. Material shortage: Just as material availability started to improve, the further threat of escalation with the Russia-Ukraine conflict has cast further uncertainties of future material stocks and reserves. The supply chain has continued to seek alternative sources of raw materials, and although this has been with partial success, market lead times remain conservative. 
3. Freight durations and costs: Heightened by the increase in fuel costs, and compounded by the instability of labour and container availability, freight durations have been particularly volatile in recent times. Early indications from Q4 2022 suggest some stabilization in shipping durations is returning to the market, but the associated costs remain volatile due to the global fuel crisis. As clients consider alternative solutions, it almost becomes cost prohibitive to use quicker forms of transport, such as air freight, due to these increasing fuel costs. 

This section includes: 

France - Economic indicators 

France - National holidays 

France - Labour productivity 

France - Labour costs 

France - Output 2021 and 2022(f) 

France - Long-lead equipment (LLE) and Supply Chain narrative

France - Construction health and safety practices and culture  

France - Macroeconomic overview 

France - Economic indicators

France - National holidays

France - Labour productivity  

France - Labour costs

France - Output 2021 and 2022(f) (in millions)

France - Long-lead equipment (LLE) and Supply Chain narrative 

Long-lead equipment (LLE) lead times have changed drastically since the start of 2022. Suppliers have seen the implications of material shortages, delays and price hikes throughout the supply chain, which is leading to extended lead times and reduced commitment from suppliers for new projects. The key areas in focus are:

1. Demand: The demand for long-lead equipment in the data centre sector has continued to increase in Q3 2022. More data centre and crypto mining providers are joining the market, and this continued demand far outweighs the capacity of the supply chain. Entry onto the production line remains a significant challenge, with suppliers reporting fully booked capacity until Q2 2024. There has been some growth in the development of Tier 2 and Tier 3 suppliers to support this demand. However, it will take time to build an extended supply chain. There has also been no sign of a decline in demand yet in early Q4 2022.
2. Material shortage: Just as material availability started to improve, the further threat of escalation with the Russia-Ukraine conflict has cast further uncertainties of future material stocks and reserves. The supply chain has continued to seek alternative sources of raw materials, and although this has been with partial success, market lead times remain conservative.
3. Freight durations and costs: Heightened by the increase in fuel costs, and compounded by the instability of labour and container availability, freight durations have been particularly volatile in recent times. Early indications from Q4 2022 suggest some stabilization in shipping durations is returning to the market, but the associated costs remain volatile due to the global fuel crisis. As clients consider alternative solutions, it almost becomes cost prohibitive to use quicker forms of transport, such as air freight, due to these increasing fuel costs.

France - Construction health and safety practices and culture

This section includes: 

Germany - Economic indicators 

Germany - National holidays 

Germany - Labour productivity 

Germany - Labour costs 

Germany - Output 2021 and 2022(f)  

Germany - Long-lead equipment (LLE) and Supply Chain narrative

Germany - Construction health and safety practices and culture 

Germany - Macroeconomic overview 

Germany - Economic indicators

Germany - National holidays

Germany - Labour productivity  

Germany - Labour costs

Germany - Output 2021 and 2022(f) (in millions)

Germany - Long-lead equipment (LLE) and Supply Chain narrative 

Long-lead equipment (LLE) lead times have changed drastically since the start of 2022. Suppliers have seen the implications of material shortages, delays and price hikes throughout the supply chain, which is leading to extended lead times and reduced commitment from suppliers for new projects. The key areas in focus are:

1. Demand: The demand for long-lead equipment in the data centre sector has continued to increase in Q3 2022. More data centre and crypto mining providers are joining the market, and this continued demand far outweighs the capacity of the supply chain. Entry onto the production line remains a significant challenge, with suppliers reporting fully booked capacity until Q2 2024. There has been some growth in the development of Tier 2 and Tier 3 suppliers to support this demand. However, it will take time to build an extended supply chain. There has also been no sign of a decline in demand yet in early Q4 2022.
2. Material shortage: Just as material availability started to improve, the further threat of escalation with the Russia-Ukraine conflict has cast further uncertainties of future material stocks and reserves. The supply chain has continued to seek alternative sources of raw materials, and although this has been with partial success, market lead times remain conservative.
3. Freight durations and costs: Heightened by the increase in fuel costs, and compounded by the instability of labour and container availability, freight durations have been particularly volatile in recent times. Early indications from Q4 2022 suggest some stabilization in shipping durations is returning to the market, but the associated costs remain volatile due to the global fuel crisis. As clients consider alternative solutions, it almost becomes cost prohibitive to use quicker forms of transport, such as air freight, due to these increasing fuel costs.

Germany - Construction health and safety practices and culture

This section includes: 

Israel - Economic indicators 

Israel - National holidays 

Israel - Labour productivity 

Israel - Labour costs 

Israel - Output 2021 and 2022(f) 

Israel - Long-lead equipment (LLE) and Supply Chain narrative

Israel - Construction health and safety practices and culture 

Israel - Macroeconomic overview 

Israel - Economic indicators

Israel - National holidays

Israel - Labour productivity  

Israel - Labour costs

Israel - Output 2021 and 2022(f) (in millions)

Israel - Long-lead equipment (LLE) and Supply Chain narrative 

Long-lead equipment (LLE) lead times have changed drastically since the start of 2022. Suppliers have seen the implications of material shortages, delays and price hikes throughout the supply chain, which is leading to extended lead times and reduced commitment from suppliers for new projects. The key areas in focus are:

1. Demand: The demand for long-lead equipment in the data centre sector has continued to increase in Q3 2022. More data centre and crypto mining providers are joining the market, and this continued demand far outweighs the capacity of the supply chain. Entry onto the production line remains a significant challenge, with suppliers reporting fully booked capacity until Q2 2024. There has been some growth in the development of Tier 2 and Tier 3 suppliers to support this demand. However, it will take time to build an extended supply chain. There has also been no sign of a decline in demand yet in early Q4 2022.
2. Material shortage: Just as material availability started to improve, the further threat of escalation with the Russia-Ukraine conflict has cast further uncertainties of future material stocks and reserves. The supply chain has continued to seek alternative sources of raw materials, and although this has been with partial success, market lead times remain conservative.
3. Freight durations and costs: Heightened by the increase in fuel costs, and compounded by the instability of labour and container availability, freight durations have been particularly volatile in recent times. Early indications from Q4 2022 suggest some stabilization in shipping durations is returning to the market, but the associated costs remain volatile due to the global fuel crisis. As clients consider alternative solutions, it almost becomes cost prohibitive to use quicker forms of transport, such as air freight, due to these increasing fuel costs.

Israel - Construction health and safety practices and culture

This section includes:

Italy - Economic indicators 

Italy - National holidays 

Italy - Labour productivity 

Italy - Labour costs 

Italy - Output 2021 and 2022(f) 

Italy - Long-lead equipment (LLE) and Supply Chain narrative

Italy - Construction health and safety practices and culture 

Italy - Macroeconomic overview 

Italy - Economic indicators

Italy - National holidays

Italy - Labour productivity  

Italy - Labour costs

Italy - Output 2021 and 2022(f) (in millions)

Italy - Long-lead equipment (LLE) and Supply Chain narrative 

Long-lead equipment (LLE) lead times have changed drastically since the start of 2022. Suppliers have seen the implications of material shortages, delays and price hikes throughout the supply chain, which is leading to extended lead times and reduced commitment from suppliers for new projects. The key areas in focus are:

1. Demand: The demand for long-lead equipment in the data centre sector has continued to increase in Q3 2022. More data centre and crypto mining providers are joining the market, and this continued demand far outweighs the capacity of the supply chain. Entry onto the production line remains a significant challenge, with suppliers reporting fully booked capacity until Q2 2024. There has been some growth in the development of Tier 2 and Tier 3 suppliers to support this demand. However, it will take time to build an extended supply chain. There has also been no sign of a decline in demand yet in early Q4 2022.
2. Material shortage: Just as material availability started to improve, the further threat of escalation with the Russia-Ukraine conflict has cast further uncertainties of future material stocks and reserves. The supply chain has continued to seek alternative sources of raw materials, and although this has been with partial success, market lead times remain conservative.
3. Freight durations and costs: Heightened by the increase in fuel costs, and compounded by the instability of labour and container availability, freight durations have been particularly volatile in recent times. Early indications from Q4 2022 suggest some stabilization in shipping durations is returning to the market, but the associated costs remain volatile due to the global fuel crisis. As clients consider alternative solutions, it almost becomes cost prohibitive to use quicker forms of transport, such as air freight, due to these increasing fuel costs.

Italy - Construction health and safety practices and culture

This section includes: 

Netherlands - Economic indicators 

Netherlands - National holidays  

Netherlands - Labour productivity  

Netherlands - Labour costs 

Netherlands - Output 2021 and 2022(f)  

Netherlands - Long-lead equipment (LLE) and Supply Chain narrative

Netherlands - Construction health and safety practices and culture 

Netherlands - Macroeconomic overview 

Netherlands - Economic indicators

Netherlands - National holidays

Netherlands - Labour productivity  

Netherlands - Labour costs

Netherlands - Output 2021 and 2022(f) (in millions)

Netherlands - Long-lead equipment (LLE) and Supply Chain narrative 

Long-lead equipment (LLE) lead times have changed drastically since the start of 2022. Suppliers have seen the implications of material shortages, delays and price hikes throughout the supply chain, which is leading to extended lead times and reduced commitment from suppliers for new projects. The key areas in focus are:

1. Demand: The demand for long-lead equipment in the data centre sector has continued to increase in Q3 2022. More data centre and crypto mining providers are joining the market, and this continued demand far outweighs the capacity of the supply chain. Entry onto the production line remains a significant challenge, with suppliers reporting fully booked capacity until Q2 2024. There has been some growth in the development of Tier 2 and Tier 3 suppliers to support this demand. However, it will take time to build an extended supply chain. There has also been no sign of a decline in demand yet in early Q4 2022.
2. Material shortage: Just as material availability started to improve, the further threat of escalation with the Russia-Ukraine conflict has cast further uncertainties of future material stocks and reserves. The supply chain has continued to seek alternative sources of raw materials, and although this has been with partial success, market lead times remain conservative.
3. Freight durations and costs: Heightened by the increase in fuel costs, and compounded by the instability of labour and container availability, freight durations have been particularly volatile in recent times. Early indications from Q4 2022 suggest some stabilization in shipping durations is returning to the market, but the associated costs remain volatile due to the global fuel crisis. As clients consider alternative solutions, it almost becomes cost prohibitive to use quicker forms of transport, such as air freight, due to these increasing fuel costs.

Netherlands - Construction health and safety practices and culture

This section includes: 

Norway - Economic indicators  

Norway - National holidays

Norway - Labour productivity 

Norway - Labour costs  

Norway - Output 2021 and 2022(f)  

Norway - Long-lead equipment (LLE) and Supply Chain narrative

Norway - Macroeconomic overview 

Norway - Economic indicators

Norway - National holidays

Norway - Labour productivity  

Norway - Labour costs

Norway - Output 2021 and 2022(f) (in millions)

Norway - Long-lead equipment (LLE) and Supply Chain narrative 

Long-lead equipment (LLE) lead times have changed drastically since the start of 2022. Suppliers have seen the implications of material shortages, delays and price hikes throughout the supply chain, which is leading to extended lead times and reduced commitment from suppliers for new projects. The key areas in focus are:

1. Demand: The demand for long-lead equipment in the data centre sector has continued to increase in Q3 2022. More data centre and crypto mining providers are joining the market, and this continued demand far outweighs the capacity of the supply chain. Entry onto the production line remains a significant challenge, with suppliers reporting fully booked capacity until Q2 2024. There has been some growth in the development of Tier 2 and Tier 3 suppliers to support this demand. However, it will take time to build an extended supply chain. There has also been no sign of a decline in demand yet in early Q4 2022.
2. Material shortage: Just as material availability started to improve, the further threat of escalation with the Russia-Ukraine conflict has cast further uncertainties of future material stocks and reserves. The supply chain has continued to seek alternative sources of raw materials, and although this has been with partial success, market lead times remain conservative.
3. Freight durations and costs: Heightened by the increase in fuel costs, and compounded by the instability of labour and container availability, freight durations have been particularly volatile in recent times. Early indications from Q4 2022 suggest some stabilization in shipping durations is returning to the market, but the associated costs remain volatile due to the global fuel crisis. As clients consider alternative solutions, it almost becomes cost prohibitive to use quicker forms of transport, such as air freight, due to these increasing fuel costs.

This section includes: 

Spain - Economic indicators  

Spain - National holidays 

Spain - Labour productivity  

Spain - Labour costs  

Spain - Output 2021 and 2022(f)  

Spain - Long-lead equipment (LLE) and Supply Chain narrative

Spain - Construction health and safety practices and culture  

Spain - Macroeconomic overview 

Spain - Economic indicators

Spain - National holidays

Spain - Labour productivity  

Spain - Labour costs

Spain - Output 2021 and 2022(f) (in millions)

Spain - Long-lead equipment (LLE) and Supply Chain narrative 

Long-lead equipment (LLE) lead times have changed drastically since the start of 2022. Suppliers have seen the implications of material shortages, delays and price hikes throughout the supply chain, which is leading to extended lead times and reduced commitment from suppliers for new projects. The key areas in focus are:

1. Demand: The demand for long-lead equipment in the data centre sector has continued to increase in Q3 2022. More data centre and crypto mining providers are joining the market, and this continued demand far outweighs the capacity of the supply chain. Entry onto the production line remains a significant challenge, with suppliers reporting fully booked capacity until Q2 2024. There has been some growth in the development of Tier 2 and Tier 3 suppliers to support this demand. However, it will take time to build an extended supply chain. There has also been no sign of a decline in demand yet in early Q4 2022.
2. Material shortage: Just as material availability started to improve, the further threat of escalation with the Russia-Ukraine conflict has cast further uncertainties of future material stocks and reserves. The supply chain has continued to seek alternative sources of raw materials, and although this has been with partial success, market lead times remain conservative.
3. Freight durations and costs: Heightened by the increase in fuel costs, and compounded by the instability of labour and container availability, freight durations have been particularly volatile in recent times. Early indications from Q4 2022 suggest some stabilization in shipping durations is returning to the market, but the associated costs remain volatile due to the global fuel crisis. As clients consider alternative solutions, it almost becomes cost prohibitive to use quicker forms of transport, such as air freight, due to these increasing fuel costs.

Spain - Construction health and safety practices and culture

This section includes: 

Sweden - Economic indicators  

Sweden - National holidays

Sweden - Labour productivity  

Sweden - Labour costs 

Sweden - Output 2021 and 2022(f)  

Sweden - Long-lead equipment (LLE) and Supply Chain narrative

Sweden - Macroeconomic overview 

Sweden - Economic indicators

Sweden - National holidays

Sweden - Labour productivity  

Sweden - Labour costs

Sweden - Output 2021 and 2022(f) (in millions)

Sweden - Long-lead equipment (LLE) and Supply Chain narrative 

Long-lead equipment (LLE) lead times have changed drastically since the start of 2022. Suppliers have seen the implications of material shortages, delays and price hikes throughout the supply chain, which is leading to extended lead times and reduced commitment from suppliers for new projects. The key areas in focus are:

1. Demand: The demand for long-lead equipment in the data centre sector has continued to increase in Q3 2022. More data centre and crypto mining providers are joining the market, and this continued demand far outweighs the capacity of the supply chain. Entry onto the production line remains a significant challenge, with suppliers reporting fully booked capacity until Q2 2024. There has been some growth in the development of Tier 2 and Tier 3 suppliers to support this demand. However, it will take time to build an extended supply chain. There has also been no sign of a decline in demand yet in early Q4 2022.
2. Material shortage: Just as material availability started to improve, the further threat of escalation with the Russia-Ukraine conflict has cast further uncertainties of future material stocks and reserves. The supply chain has continued to seek alternative sources of raw materials, and although this has been with partial success, market lead times remain conservative.
3. Freight durations and costs: Heightened by the increase in fuel costs, and compounded by the instability of labour and container availability, freight durations have been particularly volatile in recent times. Early indications from Q4 2022 suggest some stabilization in shipping durations is returning to the market, but the associated costs remain volatile due to the global fuel crisis. As clients consider alternative solutions, it almost becomes cost prohibitive to use quicker forms of transport, such as air freight, due to these increasing fuel costs.

This section includes: 

Switzerland - Economic indicators

Switzerland - National holidays  

Switzerland - Labour productivity  

Switzerland - Labour costs 

Switzerland - Output 2021 and 2022(f)  

Switzerland - Long-lead equipment (LLE) and Supply Chain narrative

Switzerland - Macroeconomic overview 

Switzerland - Economic indicators

Switzerland - National holidays

Switzerland - Labour productivity  

Switzerland - Labour costs

Switzerland - Output 2021 and 2022(f) (in millions)

Switzerland - Long-lead equipment (LLE) and Supply Chain narrative 

Long-lead equipment (LLE) lead times have changed drastically since the start of 2022. Suppliers have seen the implications of material shortages, delays and price hikes throughout the supply chain, which is leading to extended lead times and reduced commitment from suppliers for new projects. The key areas in focus are:

1. Demand: The demand for long-lead equipment in the data centre sector has continued to increase in Q3 2022. More data centre and crypto mining providers are joining the market, and this continued demand far outweighs the capacity of the supply chain. Entry onto the production line remains a significant challenge, with suppliers reporting fully booked capacity until Q2 2024. There has been some growth in the development of Tier 2 and Tier 3 suppliers to support this demand. However, it will take time to build an extended supply chain. There has also been no sign of a decline in demand yet in early Q4 2022.
2. Material shortage: Just as material availability started to improve, the further threat of escalation with the Russia-Ukraine conflict has cast further uncertainties of future material stocks and reserves. The supply chain has continued to seek alternative sources of raw materials, and although this has been with partial success, market lead times remain conservative.
3. Freight durations and costs: Heightened by the increase in fuel costs, and compounded by the instability of labour and container availability, freight durations have been particularly volatile in recent times. Early indications from Q4 2022 suggest some stabilization in shipping durations is returning to the market, but the associated costs remain volatile due to the global fuel crisis. As clients consider alternative solutions, it almost becomes cost prohibitive to use quicker forms of transport, such as air freight, due to these increasing fuel costs.