A robust Q3, 2024 for air freight leads to high hopes for continued strong performance in Q4. Global cargo demand continued its double-digit growth, rising 11% in August. Lufthansa Cargo noted unusually high freight rates for this time of year, driven by supply and demand pressures, including geopolitical factors. Xeneta’s Chief Airfreight Officer, Niall van
Ocean freight rates from Asia-Europe, which saw an early peak season starting in April, are now falling as European import demand decreases. Asia-North Europe rates have dropped by $2,700 per FEU since July, although they remain four times higher than last year. Asia-Mediterranean rates have also fallen steeply. A global freight forwarder noted the pulling
Dockworkers on the U.S. East and Gulf Coast may strike unless a contract is reached by September 30. Talks between the dockworker’s union, the International Longshoremen’s Association (ILA), and port owners, represented by the United States Maritime Alliance (USMX), broke down since June with no new talks scheduled. Both sides remain at an impasse over
For Shipco, a foundation of strong core values that guide every decision and how the company operates places customer needs at the forefront. Morten Bach, Shipco’s Global COO – Commercial, emphasizes the company’s commitment to be a reliable and steadfast logistics partner for its forwarder customers, stating: “Who we are as a company, our people,
Shippers are advised to secure space and create contingency plans due to anticipated air cargo capacity shortages from key Asian markets during the peak season. According to a Xeneta and Tiaca webinar, dynamic load factors from Asia Pacific to Europe were 86% and 88% to North America in July, which is atypically high for this
A planned strike at India’s major ports was canceled after workers accepted a new five-year contract. Nearly 20,000 workers were set to walk out on August 28. Reuters reported that Unions agreed to an 8.5% pay raise over five years, down from their initial 10.6% demand. The deal ends talks that began in 2021 when
Canada’s freight railroads resumed operations after last week’s brief shutdown, which forced more freight into trucks. The rail stoppage led to a surge in truck rates, especially for long-haul intra-Canada shipments. Spot market rates increased by double digits in lanes connecting U.S. West Coast ports and Central Canada, while there was a more than 30%
The Ningbo Beilun Phase III Terminal has reopened and is operating normally. The port had shut down for two-and-a-half days after a container holding hazardous goods exploded on the YM Mobility containership docked at Ningbo-Zhoushan port on August 9. There were no casualties, and all crew members were found safe. Ningbo-Zhoushan is China’s second busiest
Canada’s Labor Minister, Steven MacKinnon, has ordered final binding arbitration to end a rail work stoppage involving over 9,000 workers and the country’s two class 1 railroads, Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC). MacKinnon’s decision came after 17 hours without a new labor deal. Both railroads wanted binding arbitration, while the
Dockworkers at India’s 12 largest ports plan to strike indefinitely starting August 28. The decision for a nationwide strike follows seven rounds of unsuccessful negotiations. A joint statement released by the six labor organizations representing dockworkers said port labor contracts had expired in December 2021. The unions have formally notified the port authorities and government
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