March 06, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

Add a heading.png

<p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Greetings!</span></span></p><p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Our objective is to make your shipping experience easier by offering you the latest and most informative details and insights regarding the freight market. We aim to provide accurate and relevant content that brings benefits to your business.</span></span></p><p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">We highly value your feedback as we continuously strive to improve the quality of our weekly market updates. We value your thoughts on our current content and encourage you to suggest specific topics that you would like us to cover in more depth.</span></span></p><p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Moreover, we are open to adjusting the style of our updates to better align with your preferences. If there are any ports or regions that we haven't addressed yet but you're interested in, please let us know.</span></span></p><p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">We wish to create the most informative newsletter possible. We appreciate your continued readership and subscription, and we thank you for taking the time to provide us with your valuable feedback, which will help us enhance our future performance.</span></span></p><p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Beeontrade would like to inform its readers that it has relocated to a new warehouse in Carteret, positioned just 5 miles from the Port of Newark, enhancing its logistical capabilities. The strategic location allows for efficient cross-docking operations and fast fulfillment picking, ensuring same-day order fulfillment.</span></span></p><p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">The proximity to Newark International Airport and Ports Newark/Elizabeth provides logistical advantages, including cross-docking, transportation, repacking, and overseas container plug-in services. The facility is equipped to handle USDA, FDA, and FSIS inspections, offering services within the 5-mile radius of Port Newark/Elizabeth.</span></span></p><p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Beeontrade's new warehouse boasts fast case picking capabilities, further facilitating the swift and efficient fulfillment of orders. Should you have any queries or need our services, don’t hesitate to reach out to our team.</span></span></p>

From the Editor’s Desk

<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Alan Murphy, CEO at Sea-Intelligence, notes that the need to move empty containers has grown 2½ times faster than the need to move full containers, affecting back-haul trades significantly.</span></span></p></li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">According to John McCown from Blue Alpha Capital, key American ports show a 54% increase in cargo imbalances from 2018 to 2023 compared to the preceding decade.</span></span></p></li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Volume development in various markets is noted to be fluctuating, with certain commodities being deemed "mandatory" to be transported via air.</span></span></p></li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Major container lines dominate the intra-European shortsea market, holding a commanding 71% share, while regional carriers and feeder operators have a modest 29% share, as per Alphaliner's recent analysis.</span></span></p></li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">The Ocean Alliance, consisting of major container carriers like CMA CGM, Cosco Shipping, Evergreen, and OOCL, has extended its partnership for an additional five years.</span></span></p></li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Hapag-Lloyd will enter a new collaboration named Gemini Cooperation with Maersk, scheduled to commence in February 2025.</span></span></p></li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Berth congestion in key Chinese ports like CNNGB, CNSHA, and CNTAO has stabilized, with minor waiting/delay of approximately 0.5 days.</span></span></p></li></ul><p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Read on for more in-depth updates.</span></span></p>

Key takeaways for the US

Ocean Freight Market Updates

Freight market update - 06 March 2024

February 28, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

February 28, 2024.png

<p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Greetings!</span></span></p><p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Our objective is to make your shipping experience easier by offering you the latest and most informative details and insights regarding the freight market. We aim to provide accurate and relevant content that brings benefits to your business.</span></span></p><p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">We highly value your feedback as we continuously strive to improve the quality of our weekly market updates. We value your thoughts on our current content and encourage you to suggest specific topics that you would like us to cover in more depth.</span></span></p><p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Moreover, we are open to adjusting the style of our updates to better align with your preferences. If there are any ports or regions that we haven't addressed yet but you're interested in, please let us know.</span></span></p><p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">We wish to create the most informative newsletter possible. We appreciate your continued readership and subscription, and we thank you for taking the time to provide us with your valuable feedback, which will help us enhance our future performance.</span></span></p>

<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">The situation in the Bab Al-Mandab Strait remains unresolved with ongoing attacks by Houthi forces.</span></span></p></li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">On February 20th, the EU initiated the Aspides Mission to safeguard ships in the Suez Canal, deploying 4 frigates for protection.</span></span></p></li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Rates are decreasing for the initial half of March, with a noticeable contrast between certain carriers in the UK market and those in North Continent Ports, primarily attributed to low demand extending from post-Q4 into Q1 2024.</span></span></p></li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">ONE is set to introduce a new shipping route, AP1 loop, connecting Vietnam, China, Taiwan, and the USA by early May. The loop will be a collaborative effort with Wan Hai lines, spanning an 8-week cycle.</span></span></p></li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">The Panama Canal Authority has unveiled plans to allocate over $8.5 billion in capital investments for sustainability projects in the next 5 years.</span></span></p></li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Notably, this investment surpasses the $5.4 billion cost of the Panama Canal expansion, marking it as the most substantial improvement project in the Canal's history.</span></span></p></li></ul><p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Read on for more in-depth updates.</span></span></p>

Freight market update - 28 February 2024

February 21, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

February 21, 2024.png

<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Vessel delays are a result of reroutes around Africa, severe North Sea weather, and disruptions near Benelux ports and Hamburg.</span></span></p></li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Hapag-Lloyd's update reveals yard utilization levels at Rotterdam, Hamburg, and Southampton increased from 55% to 85%-90% due to delayed vessel arrivals.</span></span></p></li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">North American container ports, especially on the U.S. East and Gulf coasts, are experiencing congestion from diversions through Panama and Suez canals.</span></span></p></li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">U.S. container import volumes in January 2024 showed the most significant month-over-month increase in the last seven years, as reported by Descartes Systems Group based on U.S. customs filings.</span></span></p></li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Westports Holdings, Malaysia's largest port operator, is contemplating external investors to finance an $8.3 billion expansion, with the goal of nearly doubling its capacity by 2082.</span></span></p></li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">The freight and logistics market in Turkey is projected to grow by USD 10.30 billion between 2022 and 2027, with a forecasted Compound Annual Growth Rate (CAGR) of 7.2% during the period.</span></span></p></li></ul><p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Read on for more in-depth updates.</span></span></p>

Freight market update - 21 February 2024

February 14, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

February 14, 2024.png

<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">CMA CGM has halted ships from using the Suez Canal and is rerouting them through the Cape of Good Hope, following the lead of other major carriers.</span></span></p></li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Rates from Asia to North Europe have been decreasing among various carriers in the second half of February.</span></span></p></li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Long-term deal negotiations are expected to take place after Chinese New Year (CNY), as carriers reevaluate demand patterns.</span></span></p></li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">US container import volumes increased by 7.9% in January 2024 compared to December 2023, the largest month-over-month growth for January in the last seven years.</span></span></p></li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">The growth is fueled by a 14.9% rise in imports from China, with the ports of LA and Long Beach handling the majority of the volume.</span></span></p></li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">The daily limit of ships transiting the Panama Canal will remain at 24 until the end of the dry season in April.</span></span></p></li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">BIMCO's recent Shipping Number of the Week report reveals a 0.2% year-on-year growth in the container market for 2023, contrasting with a 1.5% growth in 2019.</span></span></p></li></ul><p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Read on for more in-depth updates.</span></span></p>

Freight market update - 14 February 2024

February 07, 2024, freight market updates, featuring key insights and trends from the US, Turkey, China, and other global regions in cargo and shipping.

February 07, 2024.png

<ul style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Sea-Intelligence indicates a -5-percentage point drop in global schedule reliability for December 2023 compared to November, reaching 56.8%, the second-lowest level of the year and just 0.4 percentage points higher than December 2022.</span></span></p></li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">January saw a 10% year-on-year increase in air cargo volumes, attributed to an early Lunar New Year and shippers' concerns over the Red Sea; however, this surge did not lead to higher rates due to ample available capacity.</span></span></p></li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">High rates and fully booked flights are reported from Shanghai (SHA) to Europe and the US this week.</span></span></p></li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Due to the Chinese New Year holiday, long-distance trucking services will cease from January 31, while short-distance services will stop from February 6. Businesses are advised to check and ship out cargo before the holiday.</span></span></p></li><li style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Container shipping lines plan to transfer EU Emissions Trading System (ETS) surcharges to shippers based on the "polluter pays" principle, raising concerns about the transparency of these charges.</span></span></p></li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">The ITS Logistics US Port/Rail Ramp Freight Index notes increased Transpacific volumes on the US West Coast, driven by shippers aiming to avoid potential congestion at US East Coast ports.</span></span></p></li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">This redirection is also influenced by vessel rerouting due to the Panama Canal and the seasonal Lunar New Year restock.</span></span></p></li><li style="background-color:transparent;color:#0e101a;font-family:Georgia,serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:disc;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1"><p style="margin-left:36pt;"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">China's road logistics price index increased by 0.03 percent week-on-week from January 29 to February 2, reaching 1,038.95 points.</span></span></p></li></ul><p style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;" dir="ltr"><span style="background-color:transparent;color:#000000;font-family:Georgia,serif;font-size:12pt;"><span style="font-style:normal;font-variant:normal;font-weight:400;text-decoration:none;vertical-align:baseline;white-space:pre-wrap;">Read on for more in-depth updates.</span></span></p>

Freight market update - 07 February 2024

Discover the ultimate guide to shipping your packages to France in 2024. Whether you're a business owner expanding your reach or an individual sending gifts to loved ones, understanding the nuances of international shipping is key.

Ship to france

<div class="raw-html-embed"> <section id="introduction">
  
        <p>Discover the ultimate guide to shipping your packages to France in 2024. Whether you're a business owner expanding your reach or an individual sending gifts to loved ones, understanding the nuances of international shipping is key. This guide provides essential insights into shipping methods, costs, and how to navigate customs for a smooth experience.</p>
<section id="shipping-options">
    <h2>Shipping Options to France</h2>
    <p>Choosing the right shipping carrier is crucial for ensuring your package arrives safely and efficiently. In 2024, popular options include USPS, FedEx, DHL Express, and UPS, each offering different benefits depending on your shipping needs.</p>
    <ul>
        <li><strong>USPS First-Class Package International:</strong> Economical for small packages, taking 10-15 days.</li>
        <li><strong>Aramex:</strong> Offers competitive rates for larger shipments, with delivery times of 8-15 days.</li>
        <li><strong>Forwardme Economy:</strong> Ideal for budget-conscious shippers, providing delivery within 4-9 days.</li>
        <li><strong>DHL Express:</strong> Best for urgent shipments, with a delivery window of 1-4 days.</li>
        <li><strong>UPS:</strong> Provides reliable service with detailed tracking, expecting delivery in 3-10 days.</li>
        <li><strong>FedEx Economy:</strong> A balance between cost and speed, delivering in 3-10 days.</li>
    </ul>
    <p>Consider your package's size, weight, and how quickly you need it delivered when choosing a carrier. Using a shipping calculator can help you compare costs effectively.</p>
</section>


<style>
    #shipping-options {
        background: #fff;
        padding: 20px;
        margin-bottom: 20px;
        border-radius: 8px;
        box-shadow: 0 2px 4px rgba(0,0,0,0.1);
    }

    #shipping-options h2 {
        color: #333;
    }

    #shipping-options ul {
        list-style-type: none;
        padding: 0;
    }

    #shipping-options li {
        background: #f4f4f4;
        margin-bottom: 10px;
        padding: 10px;
        border-radius: 4px;
    }

    #shipping-options strong {
        color: #000;
    }
</style>

<section id="prohibited-restricted-items">
    <h2>Prohibited and Restricted Items</h2>
    <p>Understanding what items are prohibited or restricted is essential for a hassle-free shipping experience to France. The following list outlines common categories, but always check the latest regulations as they can change.</p>
    <h3>Prohibited Items:</h3>
    <ul>
        <li>Weapons and ammunition: Including firearms, explosives, and knives.</li>
        <li>Counterfeit goods: Such as knockoff brands and pirated software.</li>
        <li>Hazardous materials: Including flammable, corrosive, or radioactive substances.</li>
        <li>Perishable foods: Without proper packaging and documentation.</li>
        <li>Drugs and narcotics: Unless accompanied by a valid prescription.</li>
    </ul>
    <h3>Restricted Items:</h3>
    <ul>
        <li>Alcoholic beverages: Subject to age verification and quantity limits.</li>
        <li>Tobacco products: Limited quantities allowed and subject to taxes.</li>
        <li>Medications: Require a prescription and must be for personal use.</li>
        <li>Animal products: Must comply with health and safety regulations.</li>
        <li>Cultural goods: Artifacts and antiques may require export permits.</li>
    </ul>
    <p>Always verify with your chosen shipping carrier for the most current list of prohibited and restricted items, as carrier-specific rules may also apply.</p>
</section>

<style>
    #prohibited-restricted-items {
        background: #fff;
        padding: 20px;
        margin-bottom: 20px;
        border-radius: 8px;
        box-shadow: 0 2px 4px rgba(0,0,0,0.1);
    }

    #prohibited-restricted-items h2, #prohibited-restricted-items h3 {
        color: #333;
    }

    #prohibited-restricted-items ul {
        list-style-type: none;
        padding: 0;
    }

    #prohibited-restricted-items li {
        background: #e9e9e9;
        margin-bottom: 10px;
        padding: 10px;
        border-radius: 4px;
    }
</style>
<section id="customs-duties-taxes">
    <h2>Customs Duties and Taxes</h2>
    <p>When shipping to France, it's crucial to account for customs duties and taxes, which can significantly affect the total cost of your shipment. These fees are determined by the value of the goods, their type, and the country of origin.</p>
    <h3>Calculating Customs Duties and Taxes:</h3>
    <p>Customs duties are calculated as a percentage of the item's declared value, including the cost, insurance, and freight (CIF). France applies a standard VAT (Value Added Tax) rate, plus any applicable customs duties based on the product category.</p>
    <ul>
        <li><strong>VAT Rate:</strong> The standard VAT rate in France is 20%, applied to most goods.</li>
        <li><strong>De minimis Value:</strong> Shipments below a certain value are exempt from duties. For France, the de minimis threshold for duties is 150 EUR, but VAT is applied regardless of value.</li>
        <li><strong>Product Categories:</strong> Different rates may apply based on the product category, such as electronics, fashion items, or books.</li>
    </ul>
    <p>To estimate the total cost, including duties and taxes, use online calculators or consult with your shipping carrier. This will help avoid unexpected charges and ensure compliance with French customs regulations.</p>
</section>
<div style="
        width: 100%;
        display: flex;
        justify-content: center;
        align-items: center;
      ">
      <a style="
          font-size: 16px;
          padding: 10px 20px;
          font-weight: 600;
          line-height: 20px;
          color: white;
          box-shadow: 0px 0px 6px rgba(49, 70, 60, 0.35);
          border-radius: 3px;
          background-color: #388c67;
        " href="/https://www.beeontrade.com/pricing/freight-quotes">
        Get A Quote
      </a>
    </div>
</section>
<style>
    #customs-duties-taxes {
        background: #fff;
        padding: 20px;
        margin-bottom: 20px;
        border-radius: 8px;
        box-shadow: 0 2px 4px rgba(0,0,0,0.1);
    }

    #customs-duties-taxes h2, #customs-duties-taxes h3 {
        color: #333;
    }

    #customs-duties-taxes ul {
        list-style-type: none;
        padding: 0;
    }

    #customs-duties-taxes li {
        background: #e9e9e9;
        margin-bottom: 10px;
        padding: 10px;
        border-radius: 4px;
    }
</style>
<section id="packing-your-shipment">
    <h2>Packing Your Shipment</h2>
    <p>Proper packing is crucial for the safety and security of your shipment during transit. Follow these best practices to prepare your package for shipping to France:</p>
    <h3>Packing Materials:</h3>
    <ul>
        <li>Use sturdy boxes designed for shipping, ensuring they are in good condition with no tears, dents, or previous shipping labels.</li>
        <li>Utilize cushioning materials like bubble wrap, foam, or packing peanuts to protect items during transport.</li>
        <li>Seal packages securely with strong packing tape, applying it on all seams and flaps.</li>
    </ul>
    <h3>Labeling:</h3>
    <p>Clearly label your package with the recipient's full address, including the postal code and country code. Also, include your return address. If shipping multiple boxes, number them (e.g., 1 of 3, 2 of 3).</p>
    <h3>Customs Documentation:</h3>
    <p>Attach all necessary customs documentation, such as the commercial invoice and any required permits or certificates, in a clear, waterproof pouch on the outside of the package.</p>
    <p>Following these guidelines will help ensure that your shipment arrives on time and without damage. Remember, investing time in proper packing can save costs associated with damaged goods and returns.</p>
</section>

<style>
    #packing-your-shipment {
        background: #fff;
        padding: 20px;
        margin-bottom: 20px;
        border-radius: 8px;
        box-shadow: 0 2px 4px rgba(0,0,0,0.1);
    }

    #packing-your-shipment h2, #packing-your-shipment h3 {
        color: #333;
    }

    #packing-your-shipment ul {
        list-style-type: none;
        padding: 0;
    }

    #packing-your-shipment li {
        background: #e9e9e9;
        margin-bottom: 10px;
        padding: 10px;
        border-radius: 4px;
    }
</style>
<section id="navigating-french-customs">
    <h2>Navigating French Customs</h2>
    <p>Understanding and complying with French customs regulations is essential for a smooth shipping process. Here’s what you need to know:</p>
    <h3>Customs Clearance:</h3>
    <ul>
        <li>All shipments entering France must go through customs clearance. Be prepared to provide detailed documentation about your shipment, including a commercial invoice and a detailed packing list.</li>
        <li>Ensure that your items are not on the list of prohibited or restricted items. Familiarize yourself with French customs regulations to avoid unexpected issues.</li>
    </ul>
    <h3>Duties and Taxes:</h3>
    <p>Shipments above a certain value may be subject to duties and taxes. The recipient is typically responsible for paying these charges. Inform your customers or recipients about potential charges to manage their expectations.</p>
    <h3>Required Documentation:</h3>
    <p>Accurate and complete documentation is critical for customs clearance. This includes a commercial invoice, a packing list, and, depending on the nature of the goods, possibly additional certificates or licenses.</p>
    <p>By following these guidelines, you can help ensure that your shipments to France clear customs efficiently, minimizing delays and additional costs.</p>
</section>

<style>
    #navigating-french-customs {
        background: #fff;
        padding: 20px;
        margin-bottom: 20px;
        border-radius: 8px;
        box-shadow: 0 2px 4px rgba(0,0,0,0.1);
    }

    #navigating-french-customs h2, #navigating-french-customs h3 {
        color: #333;
    }

    #navigating-french-customs ul {
        list-style-type: none;
        padding: 0;
    }

    #navigating-french-customs li {
        background: #e9e9e9;
        margin-bottom: 10px;
        padding: 10px;
        border-radius: 4px;
    }
</style>
<section id="estimated-delivery-times">
    <h2>Estimated Delivery Times</h2>
    <p>Understanding the estimated delivery times for shipping to France is crucial for planning your shipments and managing expectations. Delivery times can vary based on the shipping service chosen, the origin, and the final destination within France.</p>
    <h3>Service Level Expectations:</h3>
    <ul>
        <li><strong>Standard Shipping:</strong> Generally takes between 7 to 21 business days. Ideal for non-urgent, cost-effective shipments.</li>
        <li><strong>Expedited Shipping:</strong> Delivery within 3 to 5 business days. Suitable for more urgent shipments that require quick delivery.</li>
        <li><strong>Express Shipping:</strong> Offers the fastest delivery times of 1 to 3 business days. Premium rates apply.</li>
    </ul>
    <p>Keep in mind that delivery times may be affected by customs processing, especially during peak shipping seasons or for shipments that require additional documentation or inspection.</p>
</section>

<style>
    #estimated-delivery-times {
        background: #fff;
        padding: 20px;
        margin-bottom: 20px;
        border-radius: 8px;
        box-shadow: 0 2px 4px rgba(0,0,0,0.1);
    }

    #estimated-delivery-times h2, #estimated-delivery-times h3 {
        color: #333;
    }

    #estimated-delivery-times ul {
        list-style-type: none;
        padding: 0;
    }

    #estimated-delivery-times li {
        background: #e9e9e9;
        margin-bottom: 10px;
        padding: 10px;
        border-radius: 4px;
    }
</style>
<section id="cost-saving-strategies">
    <h2>Cost-Saving Strategies for Shipping to France</h2>
    <p>Saving on shipping costs without compromising on service quality is crucial for businesses and individuals alike. Here are some strategies to help reduce your shipping expenses:</p>
    <h3>Bulk Shipping:</h3>
    <p>Consolidating multiple orders into one shipment can significantly reduce costs. Bulk shipping is especially beneficial for businesses sending large volumes of products.</p>
    <h3>Choose the Right Carrier:</h3>
    <p>Compare shipping rates from different carriers using online tools. Consider factors like delivery times, service levels, and any additional fees when choosing the best option for your needs.</p>
    <h3>Optimize Packaging:</h3>
    <ul>
        <li>Use packaging that fits your product snugly without unnecessary space, which can increase shipping costs due to dimensional weight charges.</li>
        <li>Consider lightweight materials for packaging to reduce the overall weight of your shipment.</li>
    </ul>
    <h3>Plan Ahead:</h3>
    <p>Using standard shipping options instead of express services can save money if you plan your shipments well in advance. Avoiding last-minute shipping also helps prevent the need for expensive expedited shipping options.</p>
</section>

<style>
    #cost-saving-strategies {
        background: #fff;
        padding: 20px;
        margin-bottom: 20px;
        border-radius: 8px;
        box-shadow: 0 2px 4px rgba(0,0,0,0.1);
    }

    #cost-saving-strategies h2, #cost-saving-strategies h3 {
        color: #333;
    }

    #cost-saving-strategies ul {
        list-style-type: none;
        padding: 0;
    }

    #cost-saving-strategies li {
        background: #e9e9e9;
        margin-bottom: 10px;
        padding: 10px;
        border-radius: 4px;
    }
</style>
<section id="tracking-insurance">
    <h2>Tracking and Insurance for Your Shipments</h2>
    <p>Securing your shipments with tracking and insurance is essential for safeguarding against loss, damage, or delays. Here’s how to ensure your packages are protected:</p>
    <h3>Tracking Your Shipment:</h3>
    <p>Most carriers offer real-time tracking services, allowing you to monitor your shipment from departure to delivery. This visibility can help manage expectations and provide proof of delivery.</p>
    <h3>Opting for Insurance:</h3>
    <p>Insurance options vary by carrier but generally cover loss or damage up to a certain value. Assess the worth of your items and consider purchasing additional insurance for high-value shipments.</p>
    <h3>Documentation and Claims:</h3>
    <p>Keep all shipping documents and receipts in case you need to file an insurance claim. In the event of loss or damage, contact the carrier as soon as possible to initiate the claims process.</p>
    <p>Choosing the right tracking and insurance options adds an extra layer of security to your shipments, ensuring that you're compensated in case of unforeseen circumstances.</p>
</section>

<style>
    #tracking-insurance {
        background: #fff;
        padding: 20px;
        margin-bottom: 20px;
        border-radius: 8px;
        box-shadow: 0 2px 4px rgba(0,0,0,0.1);
    }

    #tracking-insurance h2, #tracking-insurance h3 {
        color: #333;
    }
</style>
<section id="faqs">
    <h2>Frequently Asked Questions (FAQs)</h2>
    <div class="faq">
        <h3>How do I calculate shipping costs to France?</h3>
        <p>Shipping costs can be estimated using online calculators provided by carriers. Costs depend on factors like package weight, dimensions, shipping service, and destination.</p>
    </div>
    <div class="faq">
        <h3>Can I ship electronics to France?</h3>
        <p>Yes, electronics can be shipped to France, but they may be subject to customs duties and VAT. Ensure proper packaging and check if additional documentation is required.</p>
    </div>
    <div class="faq">
        <h3>What happens if my package is lost?</h3>
        <p>Contact the carrier immediately. If you opted for insurance, file a claim using your shipping documents and receipts.</p>
    </div>
    <div class="faq">
        <h3>Do I need to pay customs fees for gifts?</h3>
        <p>Gifts sent to France may be exempt from customs duties if they fall below the de minimis value. However, VAT applies regardless of the gift's value.</p>
    </div>
</section>

<style>
    #faqs {
        background: #fff;
        padding: 20px;
        margin-bottom: 20px;
        border-radius: 8px;
        box-shadow: 0 2px 4px rgba(0,0,0,0.1);
    }

    #faqs h2 {
        color: #333;
    }

    .faq h3 {
        color: #333;
        margin-top: 20px;
    }

    .faq p {
        margin-bottom: 10px;
        background: #e9e9e9;
        padding: 10px;
        border-radius: 4px;
    }
</style>




</div>

Shipping to France: Your 2024 Guide

Why Omni-Channel Automation is a Game Changer for Modern Businesses

Freight market update - 10 April 2024

Freight market update - 1 May 2024

Freight market update - 22 May 2024

Freight market update - 12 June 2024

Freight market update - 3 July 2024

Freight market update - 24 July 2024

Freight market update - 7 August 2024

Freight market update - 26 February 2025

Freight market update - 5 March 2025

The Future of D2C Fulfillment: 2025 Trends and Innovations

Advanced Warehousing Solutions for High-Volume Retailers

Freight market update - 12 December 2024

Beeontrade Blog

Blogs about trading

Trading Blogs

Beeontrade Blog Page

Blogs

Daily Blogs About Trading