In September, ocean shipping prices continued to normalize across Asia – US and Asia – EMEA lanes, despite the three-day strike by the ILA on the East and Gulf coasts. This was largely due to importers heavily front-loading volume in anticipation of the strike. Air rates have remained relatively stable, with only a moderate rise. Meanwhile, domestic USA freight demand remained sluggish but has seen a small uptick in rates.
Click here to access this month's full update.
Additional highlights from this month's update:
- USA Over-the-road carriers are facing pricing pressure but may be near the supply and demand equilibrium, with potential future rate increases
- Parcel carriers have recently announced rate increases in fuel surcharge and mailing services amidst a soft demand environment
- Warehousing rates and vacancy rates have stabilized amidst reduced demand and ongoing recessionary concerns
- The USA East/Gulf coast port strike was short lived but its impact on supply chains is yet to be fully seen with the impact of automation remaining a point of contention
- Concerns remain for a possible resumption of the ILA port strike in January 2025, just ahead of the Chinese New Year
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