Freight Rates Decline in Most Markets
As of September 2024, the freight market is navigating a dynamic and challenging environment influenced by various global factors. Sea freight is experiencing rate fluctuations and potential disruptions due to an impending East Coast port strike and the possibility of an International Longshoremen’s Association strike, with significant impacts expected on both trans-Atlantic and trans-Pacific routes. The ongoing decline in rates from Asia to North America and India, coupled with shifting demand patterns in Europe, is shaping the market. Meanwhile, the air freight sector is bracing for an unprecedented peak season driven by a surge in holiday e-commerce and the launch of new high-profile products like Apple’s iPhone 16. As the industry adapts to these evolving conditions, strategic planning and timely bookings will be crucial for navigating the complexities ahead.
Sea Freight
East Coast Port Strike
Please see our focus piece on all things EC strike and ILA.
Asia to North America
Rates continue to decline despite the prospect of a looming strike on the EC.? Significant blank sailing announcements and rates will likely hold firm until 09/30.?? Golden Week – 10/1/24 – 10/7/24 – Please book freight in advance.??
Europe to North America
The North Continent to East Coast North American trans-Atlantic route experienced continued demand growth supported by capacity management and sourcing shifts from Asia to the EU, as well as importers advancing orders ahead of the?potential International Longshoremen’s Association strike?on Oct. 1.? In the event of a strike carriers will offer services via Canada, but space/connections are limited and may not absorb all volume. ?
India?to North America
Rates continue to decline.? ?
Asia to Europe
European container markets continue to see a decline as imports imported holiday goods in advance.
领英推荐
Air Freight
Asia to North America/Europe
Sources are saying that air peak will be unprecedented due to ecommerce surge for holidays as well as Red Sea diversion.? Apple's iPhone 16 launch begins shipping this month.
Need Help Navigating the Current Freight Market?
– The CargoTrans Team
Have you met Captain?
Our End-to-End Visibility Platform
Visibility done right so that you can manage compliance, budget and expectations. Empowering you to confidently control your supply chain and deliver happiness to your customers.