The 10% tariff on all Chinese imports into the U.S. took effect on February 4, covering broad categories of goods, including consumer items like electronics, clothing, and shoes. Trade groups, including the American Association of Port Authorities (AAPA), have warned that the tariffs will slow supply chains and raise costs for U.S. consumers. China responded
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,
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
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
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
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
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
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 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
Ocean and air freight rates have climbed significantly in 2024, driven by unpredictable market dynamics, according to Transport Intelligence (Ti). Ocean freight rates remain 117.6 points above January levels, with no immediate return to pre-crisis levels expected. Xeneta’s chief analyst, Peter Sand, highlighted ocean carriers as the year’s “financial winners,” noting their shift from loss-making
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