International Freight Market News November 2024

November 18, 2024

International Freight Market News - Download your PDF copy

Our November monthly updates for air, ocean and ground markets are now available for you to download in PDF format below. All the latest information from our transportation experts at Crane Worldwide Logistics.

Key market updates this month:

Speculation has begun as to what is in store for 2025 for international trade. The previous Trump administration imposed numerous tariffs on American imports. More to come this week from Crane Worldwide Logistics experts on this topic... keep up to date with all the latest news on Industry Insight.
The ILA confirmed in a statement that negotiations with USMX broke down last week, the agreement to extend the current Master Contract is until January 15, 2025.
Labor disputes at the ports in Canada came to an end last week, the disputes impacted both Vancouver and Montreal. The government stepped in for a second time in a few months to end a dispute.
The Guarulhos Airport (GRU) in Brazil has faced operational bottlenecks following a surge in unexpected cargo volume. This lead to a temporary embargo on international cargo between 7-11 November.
Freighter and passenger aircraft capacity constraints on European routes to North America have intensified since the start of the winter schedule in November.
Looking ahead, the Lunar New Year 2025 will see factories closed during the festive period and will commence on 29th January 2025. Delays can be expected.

International Air Freight News

E-commerce platforms leveraging block space agreements are significantly affecting capacity and pricing on lanes to the U.S. and Europe. Additionally, port congestion and the ongoing container shortage have further tightened capacity and escalated rates across Asia-Europe and Asia-U.S. lanes, with increases observed every two weeks.

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International Ocean Freight News

In response to concerns over a potential strike in January and the looming threat of new tariffs proposed by President-elect Donald Trump, U.S. retailers are significantly increasing their imports for November and December.
December imports are projected to rise by 6.1%, up from the earlier forecast of 0.2%.

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U.S. Domestic Ground Freight News

Freight shipments drop 21% in soft trucking market: US Bank Q3 performance signals continued challenges regarding volume and shipper spending, according to the bank.

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