Trade

Asia-US ocean rates trend lower but Trump tariff threats shadow trade

Trans-Pacific container rates eased in the most recent week as Chinese manufacturing and logistics activity wound down for the Lunar New Year holiday, which began Wednesday.

Asia-U.S. West Coast ocean rates fell 7% to $4,938 per forty-foot equivalent unit for the week ending Jan. 24, according to the Freightos Baltic Dry Index.

Asia-U.S. East Coast prices declined 1% to $6,656 per FEU.

Asia factories and associated logistics services close for the 15 days of Lunar New Year.

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https://www.freightwaves.com/news/asia-us-ocean-rates-trend-lower-amid-trump-tariff-threats

US crossborder freight stalled in November

For all the recent contentious talk of tariffs and trade, the dollar value of crossborder freight moving between the United States, Canada and Mexico in November was unchanged from the previous year.

Crossborder freight totaled $131 billion moved by all modes of transportation, unchanged from November 2023, according to the U.S. Bureau of Transportation Statistics (BTS).

Freight between the U.S. and Canada was valued at $61.8 billion, down 5.2% y/y. Freight moving between the U.S. and Mexico came...

https://www.freightwaves.com/news/us-crossborder-freight-stalled-in-november

China’s economy is sputtering

In the latest indicators of China’s economic health, a confluence of falling bond yields, declining GDP growth and persistent consumer price deflation paints a concerning picture for the world’s second-largest economy. Throughout 2024, China’s GDP growth has been a subject of intense scrutiny, with estimates from China-skeptical Rhodium Group ranging between 2.4% and 2.8%. These figures starkly contrast with the official statistics reported by the National Bureau of Statistics (NBS), which...

https://www.freightwaves.com/news/chinas-economy-is-sputtering

Labor strife, tariffs to shadow ocean shipping in 2025

Ocean shippers can’t be blamed for feeling a little seasick. Port strikes, trade concerns, changing carrier alliances and geopolitics will continue to roil maritime transportation in 2025.

Red Sea

The attacks on Red Sea shipping by Yemen-based Houthi rebels that all but shut down the Suez Canal to major carriers and reshaped global supply chains have shown signs of abating. The attention of Iran, the Houthis’ main sponsor, has been distracted by serious domestic issues and Russia, which was...

https://www.freightwaves.com/news/labor-strife-tariffs-to-shadow-ocean-shipping-in-2025

Fitch upgrades container shipping outlook – but it’s not because of containers

A major ratings firm is improving its outlook for global container shipping — but the improvement has less to do with boxes than it does with other commodities.

Fitch Ratings over the weekend changed its outlook for global container shipping to “stable” from “deteriorating,” as a downward trajectory is partly offset by stable to improving performance in subsectors including tankers and bulk shipping.

“Shipping remains one of the most exposed sectors to geopolitical conflicts due to several choke...

https://www.freightwaves.com/news/fitch-upgrades-container-shipping-outlook-but-its-not-because-of-containers

Apparel importers call for labor talks to resume, say port automation ‘vital’ 

Apparel and footwear importers on Friday called for a resumption of port labor contract talks after President-elect Donald Trump publicly backed the East Coast longshore union.

“We welcome President-elect Trump’s commitment to strengthening United States ports and appreciate his efforts to meet with the International Longshoremen’s Association (ILA) President Harold Daggett and Executive Vice President Dennis Daggett,” said American Apparel & Footwear Association Chief Executive Steve Lamar, in...

https://www.freightwaves.com/news/apparel-importers-call-for-labor-talks-to-resume-say-port-automation-vital

Tariff threats roil North American container marketplace

Trade and tariff concerns are roiling an already volatile market and pushing up prices for shipping containers in North America, a new report says.

The region saw a 20% spike in average container prices over the past 90 days to lead a global surge on market volatility, U.S. election uncertainty and tariff fears, growing Mexico-U.S. trade, and logistical disruptions in Canada, according to the December forecast from box marketplace Container xChange.

Higher container prices — and freight rates —...

https://www.freightwaves.com/news/tariff-threats-roil-north-american-container-marketplace

Chicago intermodal no longer a bridge too far for Indiana port

Indiana officials are optimistic that a newly completed road project will help double ocean cargo capacity at the state’s Lake Michigan port.

State and local officials on Nov. 4 cut the ribbon to mark the completion of the four-lane State Road 249 bridge.

The bridge is part of the Indiana Department of Transportation’s $35.4 million multiyear project to double capacity on the only public roadway linking Ports of Indiana-Burns Harbor and the greater Chicago/northern Indiana market.

The rail-served...

https://www.freightwaves.com/news/chicago-intermodal-no-longer-a-bridge-too-far-for-indiana-port

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