Global container freight demand has not shown signs of improvement and continues to drive a downward trend in rates, according to market indices. Drewry’s composite World Container Index (WCI) for March 6, 2025, decreased -3% per 40ft container, led by a -9% decline in the Pacific trade rates. This marks the lowest level observed since
Speaking at TPM25, liner analyst and CEO of Vespucci Maritime, Lars Jensen, asserted that the container market is unaffected despite declines in spot rates on the main East-West routes. “I really don’t think the market is that weak – demand remains strong, and the number of boxes being moved globally is still very high,” he
The U.S. has imposed tariffs of 25% on all goods from Mexico and Canada starting March 4, 2025. The measure comes following a one-month delay during which negotiations with the two countries took place. Additionally, duties on Chinese goods have also doubled, increasing from 10% to 20% Canada immediately implemented a 25% tariff on U.S. imports worth
Panelists at the Journal of Commerce’s TPM25 conference indicated that the container market is facing a downturn in 2025, warning that it could be worse than previous declines. Parash Jain, the global head of Transport and Logistics Research at HSBC, stated that the market’s decline is already underway and identified several key variables driving this
Deployed capacity on the Asia to Latin America trade lane has more than doubled on a quarterly basis in the past three years. According to data from MDS Transmodal, deployed capacity exceeded 2 million TEUs in the first quarter. Comparing Q1 2024 and Q1 2025, capacity alone grew 20% year-over-year. This rapid growth has been
The International Air Cargo Association (TIACA) expects air cargo demand to grow by 5% in 2025. This forecast aligns with the IMF’s latest prediction of global GDP growth reaching 3.3% for 2025-2026. Glyn Hughes, TIACA’s Director General, explained that this growth projection is based on economic stability, an increase in e-commerce, and a growing middle class that
Members from the International Longshoremen’s Association (ILA) have officially ratified a new six-year master contract with their maritime employers, represented by the United States Maritime Alliance (USMX). Nearly 99% of ILA’s 45,000 registered members voted in favor, securing a 62% pay rise, faster wage increases, and improved benefits. Retroactive to October 1, 2024, the contract
The U.S. Trade Representative (USTR) has proposed fees on Chinese-built vessels entering U.S. ports. The plan includes fees up to $1.5 million per port call for Chinese-built ships and $1 million for operators of these vessels. Public comments are open until March 24, after which a decision will be made. Most ocean-going ships would pay
Los Angeles and Long Beach ports achieved their strongest January performance as importers rushed to move cargo ahead of anticipated tariff increases on goods from China, Canada, and Mexico. The Port of LA moved 924,245 TEUs, up 8% from last year, said Port of Los Angeles Executive Director Gene Seroka. Import containers rose 9.5% to 483,831
Shipping in the Red Sea remains uncertain, despite a slight rise in traffic. Security concerns are still keeping most vessels on longer routes around Africa. Although no merchant ships have been attacked this year, threats persist as Yemen’s Houthis warn they may resume attacks on vessels should the ceasefire between Israel and Hamas collapse. The
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