Stay informed about the latest trends in the freight market with Beeontrade's comprehensive December 2023 update. From shifting shipping routes to the impact of international regulations, we cover it all. Subscribe for exclusive weekly insights.

"Beeontrade Freight Market Update - December 2023"

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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">U.S. ports recorded a 9% decrease in handling 2,099,408 twenty-foot equivalent units of imports in November compared to October, as reported by Descartes.</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">Confidence in the Panama Canal's ability to handle container vessel transits has recently declined, prompting a notable change in shipping routes.</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) predicts a 4.5% increase in air cargo demand for the next year, despite an expected decline in sector revenues due to rate pressure.</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 carriers are maintaining their stance on the mid-December and January 1st Asia-North Europe general rate increases (GRIs), indicating success in restoring rates.</li></ul>Read on for more in-depth updates.

Key takeaways for the US

Ocean Freight Market Updates

Freight market update - 13 December 2023

Stay informed about the latest trends and updates in the freight market.
Exclusive insights from industry leaders on climate regulations and COP28.
In-depth analysis of key shipping routes and market dynamics.

Freight Market Insights - COP28 and Route Trends

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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">Shipping industry leaders, including CEOs of major European companies such as CMA CGM, Hapag-Lloyd, Maersk, MSC, and Wallenius Wilhelmsen, jointly addressed COP28.</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 shipping industry is undergoing significant changes due to climate regulations imposed by the United Nations Maritime Organization (IMO) and regional initiatives.</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 situation at the Panama Canal is worsening, causing significant delays for vessels without reservations.</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">Niall van de Wouw, Xeneta's Chief Airfreight Officer, indicates that after a rapid rate decline earlier in the year, the market might have established a new baseline, leading to the emergence of 'classic seasonality' patterns.</li></ul>Read on for more in-depth updates.

Freight market update - 06 December 2023

Stay informed about the latest trends and insights in the freight market with our detailed November 2023 update. From disruptions in major trade lanes to carrier announcements and port performances, we've got you covered.

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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">Shippers are concerned about disruptions on the Asia-North Europe trade lane as ships may be laid up before the Chinese New Year 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">Robust performances were observed in October at the Los Angeles and Long Beach ports in the U.S. West Coast.</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, a French carrier, announced a $150 per TEU 'Panama Adjustment Factor' starting January 1, 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">Adverse weather conditions, volcanic activity, and conflicts impacting cargo capacity have led to a rise in air freight rates in the past week.</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">ONE is on the verge of finalizing twelve contracts for methanol-powered 13,000+ TEU ships with Chinese yards, and several projects are underway for medium-sized ships in the 3,000 to 6,000 TEU size range.</li></ul>Read on for more in-depth updates.

Freight market update - 29 November 2023

Stay informed about the latest trends and updates in the global freight market. Our comprehensive weekly newsletter covers key insights, market trends, and operational updates, ensuring you are well-prepared for any developments in the industry.

Global Freight Market Updates - Weekly Insights & Trends

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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">Air cargo may experience increased demand in the wake of potential disruptions in ocean shipping reliability expected in 2024 when antitrust rule changes come into effect.</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">Thailand is proposing a $28 billion project, the Landbridge initiative, aimed at significantly reducing shipping times between the Indian and Pacific oceans by bypassing the heavily trafficked Malacca Strait.</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 Hamburg experienced a 2.4% increase in container throughput, handling over 2 million TEUs in the third quarter of 2023 compared to 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">Container shipping company Zim has relaunched its South China – California service, known as "Zim ecommerce Xpress" or "ZEX."</li></ul>Read on for more in-depth updates.

Freight market update - 22 November 2023

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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<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.

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.

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