Global maritime trade rose 2.4% in 2023 to 12.3 billion tons. According to the Review of Maritime Transport 2024 released by the United Nations Trade and Development (UNCTAD), shipping volumes are forecasted to grow 2% in 2024, with annual increases averaging 2.4% expected through 2029. However, the report warned that high freight costs and geopolitical
Schedule disruptions on the North-South trade lane have resulted in port delays, which are spreading across South America’s East Coast. Vessels arriving late from the U.S. are causing delays for cargo leaving ports in Brazil, Argentina, and Uruguay. JOC analyst and CEO of Vespucci Maritime, Lars Jensen, previously warned that the ripple effects from the
As dock workers announced a 24-hour strike starting Sunday, 27 October at 7 am, Montreal’s port faces another wave of disruption. The Maritime Employers Association (MEA) has warned that the strike’s impact will extend beyond the one-day stoppage. “We recall that the strike called on 30 September by the union paralyzed operations for three days
Airlines are increasing capacity on Asia Pacific-North America routes as the disruptions from China’s Golden Week eases and preparations for the Christmas rush begin. The U.S. National Retail Federation (NRF) expects holiday spending to rise between 2.5% and 3.5% compared to last year, with e-commerce projected to grow between 8% and 9%, reaching $297.9 billion.
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