January 24, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

January 17, 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.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">Asian shippers are currently dealing with high freight rates and a shortage of capacity on intra-Asia trades, primarily caused by vessel diversions around the Cape of Good Hope.</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">According to MDS Transmodal data, deep-sea services represented approximately 64% of total quarterly capacity between China and Vietnam in Q4 2023, marking an increase from nearly 58% the previous 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">Vietnam has experienced a noteworthy surge in liner connectivity, marking a 13.7% year-on-year increase in Q4, propelling it five places to ninth in Sea-Intelligence's index.</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 market for returnable transport packaging is expected to undergo substantial growth, with sales projected to reach US$ 28.53 billion in 2023 and surge to US$ 42.11 billion by 2033.</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 Ministry of Industry and Trade in Hanoi has set a target of achieving a 6% export growth in 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">FMCSA data and FTR Intel's State of Freight report indicate a tightening of capacity in the U.S. trucking industry, despite a prolonged period of reduced freight volumes.</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 overall growth in the trucking industry has been modest, with a 2.5% growth last year and an expected 2% growth in the current year.</li></ul>Read on for more in-depth updates.

Key takeaways for the US

Ocean Freight Market Updates

Freight market update - 24 January 2024

January 17, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

<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">354 vessels have opted for the Cape of Good Hope route, making up 80% of Asia-Europe Trade vessels.</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">National Retail Federation (NRF) expresses concerns about a potential strike at US East Coast terminals.</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">Vessels idle at the Panama Canal due to historically low water levels, reducing daily transit capacity from 36 to 22 vessels.</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 further decrease to 16 vessels per day is expected in February.</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">Westbound voyages from Asia are reportedly fully booked until Chinese New Year (starting February 10).</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">Some carriers are responding to high market rates, reaching $10,000 per 40ft for prompt shipments from China to North Europe.</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 logistics market in the Asia-Pacific (APAC) region is projected to witness substantial growth, with an estimated increase of USD 145.4 million from 2022 to 2027.</li></ul>Read on for more in-depth updates.

Freight market update - 17 January 2024

January 10, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

January 10, 2024.png

<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">Despite increased inquiries, forwarders note that Air and Sea-Air bookings are currently stable.</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">Asia-Europe shippers may encounter challenges due to shortages in ocean space and equipment in the weeks leading up to the Chinese New Year as demand rises.</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">Ocean Network Express (ONE) is set to launch a new container shipping service named WIN, connecting India’s west coast to the east coast of the United States.</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">Hapag-Lloyd is set to introduce a new General Rate Increase (GRI) or General Rate Adjustment (GRA) for cargo shipments from India to the United States and Canada West Coast, starting on January 18, 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">The Shanghai Containerized Freight Index (SCFI), a significant gauge for container shipping, recorded an 8% increase this week, reaching 1896.65 points, the highest level since 2022.</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">As of January 1, 2024, the European Union's emissions trading system (EU ETS) has expanded to include the maritime sector.</li></ul>Read on for more in-depth updates.

Freight market update - 10 January 2024

January 03, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

January 03, 2024.png

Greetings!Wishing all our readers a happy and prosperous 2024. We hope this year brings you success and we look forward to your continued support to make this year a success for us.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.

<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">60 vessels traveling on the Asia Westbound route have been redirected via the Cape of Good Hope.</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">Maersk has rerouted 50% of its vessels, while CMA CGM has rerouted 30% of its ships.</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 New Orleans has received a $74 million grant from the 2021 Infrastructure Act.</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">Suspicions about China's ambitions and disruptions in the post-COVID supply chain have played in India's favor.</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 Congress has approved a measure preventing the Pentagon from utilizing seaports globally that depend on the Chinese logistics platform LOGINK.</li></ul>Read on for more in-depth updates.

Freight market update - 03 January 2024

December 27, 2023, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

Map and Graphs of December 27, 2023, Freight Market Update

december-27-2023-freight-market-update.png

<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. Congress has approved a measure prohibiting the Pentagon from utilizing seaports worldwide that depend on the Chinese logistics platform known as LOGINK.</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">China's road logistics price index experienced a marginal decrease of 0.02 percent in the week spanning from December 18 to 22, as per industry data.</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 dedicated rail terminal for freight between Xi'an, Shaanxi province, and Kazakhstan officially commenced operations to enhance trade between China and Central Asia.</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">Ekol Logistics, in collaboration with Rail Cargo, conducted the first trailer passage on the Marmaray line.</li></ul>Read on for more in-depth updates.

Freight market update - 27 December 2023

Weekly market update for December 20, 2023, covering key trends in the global freight industry. Stay informed on crucial insights and make informed decisions for your shipping needs.

Freight Market Update.png

<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">Top shipping companies, such as MSC and Maersk, are urging the IMO to establish a deadline for new vessels to exclusively use fossil fuels.</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 Green Shipping Challenge has witnessed over 60 agreements and statements from national governments, shipping companies, operators, and ports in support of the IMO's reduction targets.</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">Multiple U.S. ports have lost direct access to South America due to a combination of pandemic-related blank sailings and carrier service consolidations.</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. retailers are increasing their orders for early 2024, driven by robust holiday sales, resulting in upgraded import forecasts despite some mixed economic signals.</li></ul>Read on for more in-depth updates.

Freight market update - 20 December 2023

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

The Future of D2C Fulfillment: 2025 Trends and Innovations

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

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 - 07 February 2024

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 - 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

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

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