After several years of volatility, the air cargo market is anticipated to stabilize in 2024, with a return to “classic seasonality.” However, industry experts caution that unforeseen events could still cause turbulence. Data provider Xeneta projects modest growth of 1-2% for air cargo volumes in 2024, while supply is expected to increase at a slightly […]
Read MoreThe Los Angeles and Long Beach ports on the U.S. West Coast enjoyed a robust performance in October, marked by a significant surge in imported containers. Los Angeles handled 372,455 TEU (twenty-foot equivalent units), representing a 10.7% increase over the previous year. Long Beach, on the other hand, witnessed an even more impressive 23.6% jump […]
Read MoreThe International Longshoremen’s Association (ILA), the union representing dockworkers on the U.S. East and Gulf coasts, warned members to prepare for a possible coast-wide strike in October 2024. Harold Daggett, the President of the ILA, conveyed this message to the rank-and-file members. He also mentioned that an update on wage negotiations with ocean carriers […]
Read MoreToday in San Francisco, California, the United States took stock of the progress made in the Trade Pillar of the Indo-Pacific Economic Framework for Prosperity. Over the last year, a diverse group of thirteen partners (Australia, Brunei Darussalam, Fiji, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, the United States, and Viet Nam) has advanced our shared vision […]
Read MoreAir cargo is poised to benefit from a potential decline in ocean shipping reliability in 2024 as the industry grapples with the implications of changes to antitrust regulations. Xeneta chief airfreight officer Niall van de Wouw, speaking at the TIACA executive summit, highlighted the key factors shippers consider when choosing between air and […]
Read MoreThe outlook for air cargo demand in 2024 remains uncertain, with industry experts offering a range of projections from flat growth to moderate increases. While there is some optimism that demand could recover from its current slump, ongoing economic and geopolitical uncertainties cloud the picture. At the Tiaca Executive Summit event, Rogier Blocq of […]
Read MoreVenture capital firms are investing less in supply chain technology startups this year, as the freight market weakens, and investors become more cautious. In the first half of 2023, venture firms invested $5.7 billion in logistics companies, down from $22.7 billion in the same period last year, according to PitchBook Data. This pullback has […]
Read MoreOcean carriers are facing the threat of lower contract rates in 2024, as spot market prices remain under pressure. A new analysis by Xeneta shows that its long-term freight rate index declined by 2.6% in October and has fallen by 62.2% in the past 12 months. The firm expects the decline to continue in the […]
Read MoreThe Panama Canal Authority (ACP) has announced further restrictions on ship crossings, starting February 1, 2024, in response to an intensifying drought that has caused water levels in the canal to reach record lows. The drought, which is being blamed on the El Niño weather pattern, has had a significant impact on global trade, […]
Read MoreAfter a period of dominance by East Coast and Gulf Coast ports, the momentum has shifted back to the West Coast. Imports from Asia are starting to head back to America’s Pacific gateways, with the West Coast regaining some lost ground. There are a few factors driving this shift. First, the labor issue on […]
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