January 2 2025, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

January 2, 2025.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">The U.S. East Coast may face significant disruptions in early 2025 due to a potential strike by the International Longshoremen’s Association (ILA) amid unresolved contract negotiations.</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 fleet capacity in the Transpacific (TP) trade has increased by 4.2% year-on-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">Carriers anticipate a rise in demand in early January with the onset of the traditional peak season, and shippers are advised to confirm bookings early to avoid potential space constraints.</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 Portuguese Navy and Turkish defense technology company STM have signed agreements for the construction of two new replenishment vessels.</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 Taiwan Strait’s weather is far more hostile than that of the eastern Mediterranean, complicating any efforts to deliver personnel, equipment, and supplies.</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 Department of Defense allocated $230 million for the Trident Pier at Gaza.</li></ul>Read on for more in-depth updates.

Key takeaways for the US

Ocean Freight Market Updates

Freight market update - 2 January 2025

December 26, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

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<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 U.S. East Coast could see major disruption in early 2025.</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 International Longshoremen’s Association (ILA) signals a likely strike amid unresolved contract negotiations.</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">Key terminals like Manila and Shanghai's YS1 are grappling with severe congestion, leading to delays of 2-3 days for vessels.</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">Westport anticipates increased operational pressure with 26-28 vessel calls expected next week, potentially complicating berth management.</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">Global economic growth in 2024 is projected at 2.7%.</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">U.S. growth is forecast at 2.7%, fueled by strong consumer spending.</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 Network of the Future for East-West trades, including Asia-to-North America routes, will go live on February 1, 2025.</li></ul>Read on for more in-depth updates.

Freight market update - 26 December 2024

December 19, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

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<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">Negotiations between the International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) remain unresolved.</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">Direct import and export services through Los Angeles and Montreal provide options to bypass East and Gulf Coast disruptions.</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 freight rates are 117.6 points higher than January levels, with no expectation of returning to pre-crisis levels soon.</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">Global container volumes grew 8.3% year-on-year in Q3, with North American demand surging by 18.2%.</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">Extreme factors, such as EU and U.S. tariffs on Asian imports, make air freight rate trends unpredictable over the medium to long term.</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">Global trade is projected to reach a record $33 trillion, reflecting a 3.3% increase from 2023, according to UNCTAD.</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 Transpacific (TP) trade has experienced a 4.2% year-on-year increase in container fleet 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">MSC will launch its standalone East-West network, ‘Mustang,’ in 2025.</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 threat of strikes at Indian ports has subsided after a wage and pension contract agreement was officially approved.</li></ul>Read on for more in-depth updates.

Freight market update - 19 December 2024

December 12, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

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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 ILA and the USMX are at an impasse over the use of semi-automated rail-mounted gantry cranes (RMGs).</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">Air cargo demand continued its upward trend in October, marking 15 consecutive months of growth.</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">Industrial production rose by 1.6% in September, and global goods trade increased by 2.4%.</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">South Korea’s exports to the U.S. exceeded 1 million TEUs in 2024, up from 600,000 TEUs in 2017.</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">Vietnam’s containerized exports to the U.S. surpassed two million TEUs in the first 10 months of 2024. This figure is double the 2017 levels and represents a 41% year-on-year (y/y) increase in Q2 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">Several Chinese ports, including CNSHA, CNLYG, and CNSHA-YS, faced closures due to strong winds, resulting in berth congestion and delays of 4-5 days in some areas.</li></ul>Read on for more in-depth updates.

Freight market update - 12 December 2024

December 6, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

December 6, 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.

<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">Donald Trump's return to the White House has raised concerns about his proposed trade policies, which include sweeping tariffs targeting specific regions and goods.</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 market study by Morgan Stanley found that 70% of U.S. importers indicated they would not change their supply chain strategies in the coming months.</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">Blank sailings are significantly impacting capacity deployment, with a week-on-week reduction of 16% to 27% in the second half of December.</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">Mundra Port continues to face delays of up to 48 hours due to congestion.</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">Chattogram Port saw a 10% increase in container handling from August to October compared to last year, clearing backlogs caused by earlier political unrest.</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">China’s logistics sector grew steadily in November 2024, with the logistics index reaching 52.8%, up 0.2 points from October.</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">Social logistics is projected to reach 360 trillion yuan (~$50.7 trillion) this year, supported by government plans.</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 Chinese government recently released a plan to build a modern commercial circulation system integrating domestic and international markets, urban and rural areas, and production with sales.</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 new edition of the September Global Shipping Report, issued yesterday by Waterloo, Ontario-based Descartes, highlighted another strong month of elevated U.S.-bound import levels.</li></ul>Read on for more in-depth updates.

Freight market update - 6 December 2024

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

November 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">In Q3 2024, global container shipping set a new record, handling 47 million TEUs—a 2% increase from the previous peak reached during the pandemic in 2021.</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 Trades Statistics (CTS) data reveals that global volumes for the first nine months of 2024 hit 136.7 million TEUs, marking a 6.3% year-over-year (y/y) growth and a 1.5% rise compared to 2021.</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-Mexico trade route experienced rapid growth in 2024, with shipping volumes increasing by 18.9% in the first nine months compared to 2023.</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">Canada’s busiest ports have resumed operations following labor disputes that disrupted container flows.</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">On 14 November, the Canada Industrial Relations Board ended union worker lockouts and ordered binding arbitration in the ongoing contract disputes.</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">With Donald Trump returning to the White House, there is a possibility of imposing additional tariffs, including a 10–20% increase on all imports and a steep 60% on Chinese products.</li></ul>Read on for more in-depth updates.

Freight market update - 29 November 2024

Why Omni-Channel Automation is a Game Changer for Modern Businesses

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

Freight market update - 7 August 2024

Freight market update - 26 February 2025

Freight market update - 5 March 2025

The Future of D2C Fulfillment: 2025 Trends and Innovations

Advanced Warehousing Solutions for High-Volume Retailers

How Effective Inventory Management Can Transform Your Business

Freight market update - 29 August 2024

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

Freight market update - 9 January 2025

Omni-Channel Strategies for Growing E-Commerce Businesses

Freight market update - 12 March 2025

Freight market update - 23 January 2025

Freight market update - 30 January 2025

Freight market update - 5 February 2025

Freight market update - 12 February 2025

Freight market update - 21 February 2025

Demystifying All-Inclusive Freight Rates: What Shippers Need to Know

Freight market update - 20 March 2025

Freight market update - 26 March 2025

Freight market update - 25 October 2023

The Ultimate Guide to Freight Rate Optimization in 2025

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 - 5 September 2024

Freight market update - 31 July 2024

Freight market update - 14 August 2024

Freight market update - 20 December 2023

Freight market update - 21 August 2024

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

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