Explore the latest insights into the freight market with Beeontrade's comprehensive update for November 15, 2023. From impactful trends in the U.S. Department of Transportation to global shifts in the ocean freight market, stay informed on crucial developments affecting your shipping experience. Subscribe to our newsletter for exclusive tips and navigate the complexities of logistics with confidence.

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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.Moreover, we are open to adjusting the style of our updates to better align with your preferences. If there are any ports or regions that we haven't addressed yet but you're interested in, please let us know.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:#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">The U.S. Department of Transportation’s Maritime Administration (MARAD) has allocated over $653 million for infrastructure enhancement at 41 ports across the country through the PIDP.</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">In October, the U.S. witnessed the import of 2,307,918 twenty-foot equivalent units (TEUs) of containerized goods, reflecting a 3.9% year-on-year increase and a 4.7% rise from September.</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">A recent report by Alphaliner reveals that slightly over 20% of the global container fleet is aged 20 years or older, constituting a total capacity of 2.9 million twenty-foot equivalent units (TEU).</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">The ILA has reiterated its commitment to a potential strike if a new labor contract is not reached by September 30, 2024.</li></ul>Read on for more in-depth updates.

Key takeaways for the US

Ocean Freight Market Updates

Freight market update - 15 November 2023

Stay informed about the latest developments and insights in the freight market with Beeontrade's comprehensive weekly market update for November 1, 2023. Gain valuable knowledge about key trends, market stability, and projections for various trade routes. Subscribe for exclusive tips on freight forwarding, ensuring a smooth shipping experience for your business.

Beeontrade Freight Market Update - Nov 1, 2023

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<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><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">The North American market remained stable in October.</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">The North American cold chain market is projected to achieve a value of $104.1 billion by 2028.</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">The Ocean Alliance is expected to experience significant growth in the coming years.</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">The International Air Transport Association (IATA) plans to release a Net Zero Tracking Methodology report in the fourth quarter of 2024.</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">Congestion on U.S. highways resulted in a cost of $94.6 billion to the trucking industry in 2021, a notable increase from $74.5 billion in 2016.</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">The 2M Alliance is implementing a "winter schedule" on the Asia-North Europe trade from the end of October until mid-December.</li></ul>Read on for more in-depth updates.

Freight market update - 1 November 2023

Stay updated on the latest trends and insights in the freight market with Beeontrade's comprehensive weekly market update for October 25, 2023. Subscribe for exclusive tips on freight forwarding and gain valuable knowledge for informed business decisions.

Beeontrade Freight Market Update - Oct 25, 2023

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<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><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">As of October 9th, inactive capacity reached a total of 315 ships, equivalent to 1.18 million TEU.</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">Shipping rates from Shanghai to Europe and the USA are currently high and are not expected to decrease in the near future.</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">The Port of Long Beach achieved its busiest September ever, handling a total of 829,429 twenty-foot equivalent units (TEUs).</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">The surge in cargo activity is due to a demand for holiday-related products and the recent approval of a labor agreement.</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">In the third quarter, the 3 major US airlines reported significant revenue growth in their core passenger operations, but their cargo revenues decreased notably.</li></ul>Read on for more in-depth updates.

Freight market update - 25 October 2023

Stay informed on the latest developments in the freight market with Beeontrade's comprehensive weekly market update for October 18, 2023. Subscribe for exclusive tips on freight forwarding to enhance your shipping experience.

Beeontrade Freight Market Update - Oct 18, 2023

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<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><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">Recent analysis by Clarksons Research indicates that cargo owners are paying higher prices for shipping their goods in the current decade.</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">Potential risks for ocean shipping amid Israel-Hamas conflict.</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">In September, U.S. container import volumes increased by 0.3% compared to the previous month, totaling 2,203,452 TEUs.</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">The Baltic Exchange Airfreight Index (BAI) reported a 0.7% increase in the overall BAI for the week ending on October 9, cutting its year-on-year decline to -29.2%, potentially indicating a peak season rebound.</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">CMA CGM is allocating $600 million to enhance its recently acquired terminal operations in New York and New Jersey, aiming to increase capacity by approximately 80%.</li></ul>Read on for more in-depth updates.

Freight market update - 18 October 2023

Stay informed on the latest trends and insights in the freight market with Beeontrade's comprehensive weekly update for October 11, 2023. Subscribe to our newsletter for exclusive tips on freight forwarding.

Beeontrade Freight Market Update - Oct 11, 2023

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<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><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">The most recent Global Liner Performance report from Sea Intelligence reveals a 0.9% month-on-month decline in global schedule reliability, which now stands at 63.2%.</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">The China market has become busier following the Golden Week holiday.</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">Many small shippers in the US experienced issues with misapplied Demurrage and Detention (D&amp;D) charges during the Covid-19 pandemic.</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">European carbon tax surcharges are set to take effect on January 1, 2024, but the exact surcharge amounts for shippers remain undetermined.</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">The International Air Transport Association (IATA) has reported that global air cargo demand increased year-on-year in August 2023, marking the first growth in 19 months.</li></ul>Read on for more in-depth updates.

Freight market update - 11 October 2023

Stay updated on the latest trends in the freight market with Beeontrade's comprehensive weekly update for October 4, 2023. Subscribe for exclusive tips on freight forwarding.

Beeontrade Freight Market Update - Oct 4, 2023

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<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><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">The Ukraine invasion has caused a trade imbalance between China and Russia, resulting in about 150,000 TEU of empty containers stranded in Russia.</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">Second-hand container prices in Russia have dropped significantly.</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">Qatar Airways Cargo plans to use additional bellyhold capacity for two new destinations in China.</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">The US International Longshoremen and Warehouse Union (ILWU) has filed for Chapter 11 bankruptcy while stating that its operations will continue as usual.</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">Overall BAI air freight rate index increased by 4.8% compared to the previous week, indicating a positive trend.</li></ul>Read on for more in-depth updates.

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