Trans-Pacific container rates have decreased as manufacturing and logistics operations in China wound down in anticipation of the Lunar New Year holiday, which began on January 29. In the week ending January 24, Asia-U.S. West Coast ocean rates fell by -7% per FEU, while the Asia-U.S. East Coast rates dropped -1% per FEU according to
Sea-Intelligence’s year-end report covering 34 trade routes, showed containership schedule reliability remained relatively stable in 2024 amid disruptions brought on by the Red Sea crisis which forced vessel diversions, longer transits and reduced capacity. “Throughout 2024, schedule reliability has largely remained within the 50%-55% range. On a Y/Y level, schedule reliability was –3.0 percentage points lower
Yemen’s Houthis said they would allow international ships to transit the Red Sea if the ceasefire between Israel and Hamas holds. However, Israeli-owned and flagged vessels will remain targets, and the group further warned that if military actions by the U.S., UK, or Israel continued, it would resume attacks on U.S./UK vessels. Since November 2023,
Commercial shipping may resume through the Suez Canal by late February, depending on whether the conditions outlined in the ceasefire agreement between Israel and Hamas are met. Attacks on commercial vessels by Houthi militia have disrupted global shipping, forcing diversions to the longer and more costly journeys around the Cape of Good Hope for the
Hapag-Lloyd and CMA CGM are boosting their intra-Asia networks with new services and extra port calls. The updates in connectivity are taking place alongside alliance reshuffles, including the Gemini Cooperation partnership between Maersk and Hapag-Lloyd starting February 1. Hapag-Lloyd’s updates include a Vietnam-Cambodia-China (VCS) service launching on January 18, linking ports in Southeast Asia to Gemini’s
Major U.S container ports are recording high import volumes as retailers continue to front-load and the National Retail Federation (NRF) expects this trend to continue. NRF Vice President for Supply Chain and Customs Policy, Jonathan Gold, explained that even though a second U.S. port strike was averted, retailers had already rushed to ship their imports
The airfreight industry enters 2025 with cautious optimism despite slowing growth and geopolitical concerns. While 2024 saw significant gains, including 14 straight months of double-digit demand growth, December showed signs of cooling with just 6% higher tonnage compared to the previous year, according to WorldACD. Global spot rates were 15% higher in December than the
The British International Freight Association (BIFA) predicts that 2025 will bring opportunities for the international freight forwarding and logistics sectors, driven by rising global trade, e-commerce, and technological innovation. Other areas of focus include automation, digitalization, and sustainability. The International Monetary Fund (IMF) projects a 3.2% rise in global trade volumes as geopolitical tensions ease,
The International Longshoremen’s Association (ILA) and United States Maritime Alliance (USMX) have tentatively agreed on a new six-year master contract. Though pending approval by local unions and USMX members, the deal addresses key issues, including port automation, while protecting jobs and modernizing operations. “This agreement protects current ILA jobs and establishes a framework for implementing
Negotiations between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) remain unresolved, with the current master contract extension set to expire on January 15, 2025. Key U.S. East and Gulf Coast ports could face another strike without an agreement. Given the limited media coverage of these negotiations, it is advisable for
Shipco Transport © 1997 – 2024. All Rights Reserved