September 5, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

September 5, 2024.png

Greetings!Our objective is to make your shipping experience easier by offering you the latest and most informative details and insights regarding the freight market. We aim to provide accurate and relevant content that brings benefits to your business.We highly value your feedback as we continuously strive to improve the quality of our weekly market updates. We value your thoughts on our current content and encourage you to suggest specific topics that you would like us to cover in more depth.We wish to create the most informative newsletter possible. We appreciate your continued readership and subscription, and we thank you for taking the time to provide us with your valuable feedback, which will help us enhance our future performance.

From the Editor’s Desk

<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">In a Xeneta and Tiaca webinar, it was reported that dynamic load factors in July from Asia Pacific to Europe reached 86%, and 88% to North America, which is unusually high for this time of year.</li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Canadian truck rates have remained high following the brief shutdown of the country's freight railroads, which pushed more freight into trucks.</li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Spot market rates saw double-digit increases in lanes between U.S. West Coast ports and Central Canada, while spot market load volumes spiked by over 30%.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">A planned strike at India's major ports was averted after workers accepted a new five-year contract, canceling the walkout scheduled for August 28.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Nearly 20,000 workers were set to strike, but unions agreed to an 8.5% pay raise over five years, lower than their initial 10.6% demand.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Seattle's average IPI dwell time is 10 days before departure from the port of discharge, similar to Los Angeles and Long Beach, where a surge in imports is causing delays.</li></ul>Read on for more in-depth updates.

Key takeaways for the US

Ocean Freight Market Updates

Freight market update - 5 September 2024

August 29, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

August 29, 2024.png

<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Concerns over possible new tariffs on Chinese products, looming strike threats from ILWU workers, and the upcoming holiday season are driving US import volumes to surge.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">The looming threat of a strike at US East and Gulf Coast ports could strain the already pressured US air freight network.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">The US air freight network is currently grappling with heavy eCommerce traffic from APAC hubs, significantly consuming available capacity.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Mediterranean Shipping Company will relaunch its North Asia-ANZ Wallaby service on August 19, using the MSC Tania, a 2,732 TEU vessel, beginning its route from Hong Kong.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">The Ningbo Beilun Phase III Terminal has reopened and is operating normally.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Ningbo-Zhoushan is China’s second busiest container shipping port, handling more than 100,000 TEUs daily.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Maersk and Hapag-Lloyd's Gemini aims for 90% schedule reliability, but there are questions about whether this is achievable.</li></ul>Read on for more in-depth updates.

Freight market update - 29 August 2024

Explore the essential guide on effective inventory management for e-commerce businesses. Learn how to optimize operations, reduce costs, and enhance customer satisfaction.

carlos-muza-hpjSkU2UYSU-unsplash.jpg

&nbsp;<figure class="image image_resized" style="width:100%;"><img src="https://strapi-us-images.s3.eu-central-1.amazonaws.com/3pl_fullfilment_35359d23bf.jpg" alt="3pl-fullfilment.jpg" srcset="https://strapi-us-images.s3.eu-central-1.amazonaws.com/thumbnail_3pl_fullfilment_35359d23bf.jpg 245w,https://strapi-us-images.s3.eu-central-1.amazonaws.com/small_3pl_fullfilment_35359d23bf.jpg 500w,https://strapi-us-images.s3.eu-central-1.amazonaws.com/medium_3pl_fullfilment_35359d23bf.jpg 750w,https://strapi-us-images.s3.eu-central-1.amazonaws.com/large_3pl_fullfilment_35359d23bf.jpg 1000w," sizes="100vw" width="1000px"></figure>&nbsp;

How Effective Inventory Management Can Transform Your Business

August 21, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

August 21, 2024.png

<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">The recent explosion on the Yang Ming vessel YM Mobility at Ningbo Port, China, has raised serious concerns about disruptions to global supply chains, especially on major trade routes from Asia.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Hapag-Lloyd CEO Rolf Habben Jansen has raised concerns about the increasing likelihood of a longshore strike that could shut down ports along the U.S. East and Gulf coasts, noting that the risk has grown since earlier in the year.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">The potential strike is centered around the expiration of the current contract between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) on September 30.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">U.S. retailers are not expecting a slowdown in imports for the second half of 2024, driven by a near-record surge in August as they fast-track shipments ahead of potential longshore labor strikes at East and Gulf Coast ports.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">According to Sea Intelligence, June saw a significant increase in global container demand, with volumes growing by 6.3% year-on-year.</li></ul>Read on for more in-depth updates.

Freight market update - 21 August 2024

August 14, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

August 14, 2024.png

<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">In June 2024, ocean container shipping demand from China to North America and North Europe reached record levels.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Oslo-based Xeneta reported that 1.36 million TEU were shipped to North America and 800,000 TEU to North Europe.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Peter Sand, Xeneta's Chief Analyst, noted that shippers have been willing to pay premium prices to ensure the safety of their supply chains.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Ocean carriers on the trans-Atlantic route have announced peak season surcharges (PSSs) set to take effect on September 1, 2024.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Mediterranean Shipping Co. is imposing a $1,000 per FEU surcharge, while Hapag-Lloyd is setting theirs at $800 per FEU.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Negotiations between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) have stalled.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Indian freight forwarders handling shipments to North America are increasingly frustrated as carriers deny gate openings for containers, even with confirmed bookings.</li></ul>Read on for more in-depth updates.

Freight market update - 14 August 2024

August 7, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

August 7, 2024.png

<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Lufthansa Cargo's operating profit decreased by 3% in the second quarter due to increased expenses and lower yields, even though core transportation revenue rose.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">In April, United Cargo launched a new, larger facility near Newark International Airport, doubling its cargo space at the hub to 319,000 square feet.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Maersk has implemented recovery measures on its AMEX service connecting South Africa to the US, which has encountered delays from adverse weather in South Africa and extended waiting times in Freeport on the US Gulf Coast.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">The US FMC has introduced new regulations requiring ocean carriers to document their policies for handling exports, notify shippers of schedule and service changes, and ensure adequate loading times for ships.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">A significant change is the requirement for carriers to annually file a "documented export policy" with the FMC, detailing their pricing strategies, services, routes, and available equipment for US exports.</li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Container shipping capacity has increased by 1.6 million TEU since the beginning of 2024, marking an 11% year-over-year increase to 29.5 million TEU.</li></ul>Read on for more in-depth updates.

Freight market update - 7 August 2024

Freight market update - 10 April 2024

Freight market update - 1 May 2024

Freight market update - 22 May 2024

Freight market update - 12 June 2024

Freight market update - 3 July 2024

Freight market update - 24 July 2024

The Future of D2C Fulfillment: 2025 Trends and Innovations

Freight market update - 12 September 2024

Freight market update - 26 September 2024

How to Successfully Enter the US Market: Essential Logistics Tips for Startups

How to Calculate Ocean Freight Charges: Factors, Formulas, and Real-Life Examples

Omni-Channel Strategies for Growing E-Commerce Businesses

Freight market update - 25 October 2023

How To Better Manage Ocean Freight?

Freight market update - 27 March 2024

Freight market update - 17 April 2024

Freight market update - 10 January 2024

Freight market update - 07 February 2024

Freight market update - 27 December 2023

Freight market update - 8 May 2024

Freight market update - 29 May 2024

Freight market update - 14 February 2024

Freight market update - 19 June 2024

Freight market update - 10 July 2024

Freight market update - 31 July 2024

Freight market update - 20 December 2023

Freight market update - 19 September 2024

Freight market update - 17 October 2024

 101 Guide to Understanding the U.S. Port Strike and How to Avoid Supply Chain Disruption

Freight market update - 3 October 2024

Freight market update - 13 December 2023

Freight market update - 14 November 2024

Freight market update - 7 November 2024

Shipping to France: Your 2024 Guide

Freight market update - 21 November 2024

Freight market update - 1 November 2023

Freight market update - 18 October 2023

Freight market update - 11 October 2023

Freight market update - 27 September 2023

Freight market update - 04 October 2023

Freight market update - 20 September 2023

Freight market update - 13 September 2023

12 Things You Need to Know About Freight Forwarding

How to Increase Flexibility and Resilience in the Global Supply Chain

Freight market update - 06 September 2023

Freight market update - 23 August 2023

Freight market update - 30 August 2023

Understanding Major Ocean Alliances in the Shipping Industry

Freight market update - 06 December 2023

Freight market update - 21 February 2024

Freight market update - 28 February 2024

Freight Market Update - October 20, 2022

Freight market update - 29 November 2023

Freight Market Update - August 16 2023

What are the Challenges in Supply Chain Management?

Freight Market Update - 09 August 2023

Freight market update - 03 January 2024

Freight market update - 17 January 2024

How to Gain a Competitive Advantage in the Supply Chain?

Freight Market Update - January 4, 2023

Freight Market Update - October 26, 2022

Freight Market Update - Decemer 14, 2022

Freight Market Update - December 29, 2022

Freight Market Update - December 8, 2022

Freight Market Update - 2 August 2023

Freight Market Update - December 1, 2022

Freight Market Update - November 2, 2022

Freight Market Update - November 23 2023

The Best Way For Hassle-Free Inventory Management

Freight Market Update - 26 July 2023

Freight Market Update - November 17, 2022

Freight Market Update - January 18, 2023

What is SKU Analysis? How to Do It?

Market Updates Volume 1 - 5 July 2023

What Is Infrastructure In the Supply Chain And Its Challenges?

Why is Freight Visibility So Important? How to Get It?

Freight Market Update - February 1, 2023

Freight Market Update - January 25, 2023

Freight Market Update - January 11, 2023

Freight Market Update - December 21, 2022

The Art of Product Delivery: From Warehouse to Your Doorstep

Freight Market Update - 09 November 2022

Maximizing Space in 2024: The Comprehensive Guide to Shipping Container Dimensions

Beeontrade Blog

Blogs about trading

Trading Blogs

Beeontrade Blog Page

Blogs

Daily Blogs About Trading