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.
Drewry reports that three million TEUs of new shipping capacity expected in 2025 will not ease the challenges shippers face as disruptions and rising costs are expected to keep freight rates high. Drewry analyzed scenarios with and without potential U.S. East Coast port strikes in January. In both cases, rates are expected to climb. Philip
According to Lars Jensen, CEO of Vespucci Maritime, the U.S. East and Gulf Coast port strike that took place in early October, will reduce capacity on certain trade routes and could disrupt cargo frontloading ahead of another potential work stoppage in January. Although the strike was brief, Jensen warned that its ripple effects will continue
The Port of Montreal has warned shippers that an overtime strike by union dockworkers at the Port of Montreal could shut down cargo operations across its four main international terminals. Canada’s Labor Minister, Steve MacKinnon, has proposed appointing a special mediator to restart negotiations and implementing a 90-day cooling-off period during which the longshore union,
Tim Power, MD of Drewry Shipping Consultants, told delegates at the World Ports Conference in Hamburg that new regulations to decarbonize shipping could severely impact deep-sea shipping sectors. He cited a prediction by class society DNV that container shipping operating costs could double due to decarbonization costs. He suggested that in some cases, it could
Global shipping saw a 17.2% increase in TEU-mile demand in 2024 due to vessel diversions around the Cape of Good Hope, according to Xeneta. To counter longer transit times, the global fleet will expand by 4.5% in 2025, though at a slower growth than in 2024. Despite lower consumer demand, the longer routes have kept
The three-day strike at U.S. East and Gulf Coast ports will worsen existing European port congestion and greatly reduce Trans-Atlantic shipping capacity in October, Sea-Intelligence predicts. The analyst reports there were prior expectations for capacity on Mediterranean and North European routes to drop by -10% to -14% by the end of October. Now, the strike’s
MSC’s CEO, Soren Toft, expects global supply chains to become more fragmented, leading shippers to favor direct port calls over speed. Speaking at the International Association of Ports and Harbors (IAPH) World Port Conference, Toft said, “Supply chains are no longer centered around just a few countries, and no longer rely on one or two
U.S. East and Gulf Coast ports reopened Friday, October 4, after a three-day work stoppage. The International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) agreed to extend the master contract until January 15, 2025, and will continue negotiating other unresolved matters. Port leaders said minimal disruptions are expected as they work through
According to the International Air Transport Association (IATA), global air cargo demand rose by 11.4% year-over-year (y/y) in August. Cargo capacity grew by 6.2% y/y, driven by a 10.9% rise in international belly capacity. Despite record capacity levels and lower fuel costs, yields rose by 11.7% y/y and is 46% above pre-pandemic levels. Willie Walsh,
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