Global Freight Rate Update – Market Bulletin for December 11, 2024
?? Navigating the complexities of global shipping in December 2024 requires agility and foresight. With shifting rates and supply chain challenges on the horizon, businesses need actionable insights to stay ahead.
Freight Market Overview: December 2024
USWC (West Coast USA): A Surge in Freight Rates
After a significant two-month decline, freight rates on the West Coast have surged to $2,000 per FEU and are expected to triple starting December 14. This sharp increase is driven by a sudden spike in demand from Chinese exporters preparing for the Lunar New Year and the upcoming U.S. presidential inauguration. Meanwhile, port operations in Vancouver are hampered by prolonged labor strikes, causing severe warehouse delays and skyrocketing domestic costs.
USEC (East Coast USA): Rates Remain High Amid Union Tensions
Freight rates on the East Coast remain elevated, with further increases anticipated from December 15. Limited transport capacity and the threat of strikes by the International Longshoremen's Association (ILA) have intensified concerns among shippers. Ongoing negotiations between the ILA and the U.S. Maritime Alliance (USMX) remain unresolved, heightening risks of supply chain disruptions.
LATAM (South America): Weather and Congestion Challenges
Key Brazilian ports are grappling with reduced productivity due to adverse weather conditions and ongoing infrastructure projects. Transshipment hubs like Panama, Cartagena, and Kingston are congested, causing delays and additional costs for shippers.
Shipping Alliances: Major Structural Changes in 2025
Effective January 2025, shipping alliances are undergoing significant transformations:
These changes may lead to fluctuations in shipping schedules and capacity, requiring businesses to adapt swiftly.
领英推荐
Economic Forecast for 2025: Navigating Uncertainty
The IMF predicts global economic growth will remain subdued in 2025, with inflationary pressures and deflationary trends coexisting in various regions. These macroeconomic challenges are likely to disrupt supply chains and exacerbate freight rate volatility.
How Eimskip Can Support Your Business in a Volatile Market
In a market fraught with uncertainties, Eimskip offers tailored solutions to help businesses minimize risks and optimize supply chain efficiency:
?? Plan Ahead with Confidence As freight rates climb and market dynamics evolve, proactive planning is key to safeguarding your supply chain.
?? Discover Eimskip's Comprehensive Shipping Services ?? Request Your Freight Rate Quote Today
Eimskip - A Trusted Logistics Company for Over 100 Years!
Present in Vietnam since 2007, Eimskip Vietnam is proud to provide customers with exceptional experiences across a wide range of services: freight transportation, warehousing, customs clearance, and order fulfillment.
Contact Us:
?? Address: 96 Cao Thang Street, Ward 4, District 3, Ho Chi Minh City
?? Email: [email protected]
?? Hotline: 091-922 6984 | 028 6264 63 80 | 19003979
?? Website: en.eimskip.vn