Trace
•
November 11, 2024
The Future of Air Cargo: Why 2025 Will Be a Game-Changer
In a rapidly changing global landscape, air cargo is emerging as a key player in the supply chain...
•
March 12, 2024
Hello Readers,
Welcome to our weekly recap of the freight forwarding industry. This week, we bring you the latest news, trends, and regulatory changes in the world of ocean and air cargo.
Ocean rates fell across various routes. Asia-US West Coast prices fell 1% to $4,754/FEU, Asia-US East Coast prices fell 1% to $6,652/FEU, Asia-N. Europe prices fell 1% to $4,501/FEU, and Asia-Mediterranean prices fell 5% to $4,972/FEU1.
The industry is adjusting to disruptions in the Red Sea. The annual TPM conference took place under the shadow of continued Red Sea disruptions1.
Freight rates on major routes were stable overall last week. However, rates are expected to fall on the Asia – N. Europe and Mediterranean lanes, and prices from Asia to N. America have begun to decline1.
China – N. America weekly prices increased 4% to $4.99/kg, China – N. Europe weekly prices fell 20% to $2.2/kg, and N. Europe – N. America weekly prices fell 1% to $2/kg1.
Air cargo rates have not seen a significant increase due to the Red Sea situation2.
The demand for air freight forwarding remains tepid though capacity increased by up to 9% in 20233.
In 2024, IATA’s updated manuals will be the essential source for the latest state and carrier regulations, industry trends, and best practices. These changes are likely to address a range of issues, from safety and security to environmental standards4.
The sea freight market in 2024 is poised to face its own set of challenges. Economic factors such as fluctuating freight rates and operational costs will be major considerations4.
On the environmental front, regulatory pressures are mounting. Initiatives for reducing emissions and promoting sustainability are expected to gain momentum4.
.jpg)
