Stay informed about the latest trends and insights in the freight market with our detailed November 2023 update. From disruptions in major trade lanes to carrier announcements and port performances, we've got you covered.

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From the Editor’s Desk

<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">Shippers are concerned about disruptions on the Asia-North Europe trade lane as ships may be laid up before the Chinese New Year in February.</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">Robust performances were observed in October at the Los Angeles and Long Beach ports in the U.S. West Coast.</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">CMA CGM, a French carrier, announced a $150 per TEU 'Panama Adjustment Factor' starting January 1, 2024.</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">Adverse weather conditions, volcanic activity, and conflicts impacting cargo capacity have led to a rise in air freight rates in the past week.</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">ONE is on the verge of finalizing twelve contracts for methanol-powered 13,000+ TEU ships with Chinese yards, and several projects are underway for medium-sized ships in the 3,000 to 6,000 TEU size range.</li></ul>Read on for more in-depth updates.

Key takeaways for the US

Ocean Freight Market Updates

Freight market update - 29 November 2023

Stay informed about the latest trends and updates in the global freight market. Our comprehensive weekly newsletter covers key insights, market trends, and operational updates, ensuring you are well-prepared for any developments in the industry.

Global Freight Market Updates - Weekly Insights & Trends

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<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">Air cargo may experience increased demand in the wake of potential disruptions in ocean shipping reliability expected in 2024 when antitrust rule changes come into effect.</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">Thailand is proposing a $28 billion project, the Landbridge initiative, aimed at significantly reducing shipping times between the Indian and Pacific oceans by bypassing the heavily trafficked Malacca Strait.</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">The Port of Hamburg experienced a 2.4% increase in container throughput, handling over 2 million TEUs in the third quarter of 2023 compared to the previous year.</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">Container shipping company Zim has relaunched its South China – California service, known as "Zim ecommerce Xpress" or "ZEX."</li></ul>Read on for more in-depth updates.

Freight market update - 22 November 2023

Explore the latest insights into the freight market with Beeontrade's comprehensive update for November 15, 2023. From impactful trends in the U.S. Department of Transportation to global shifts in the ocean freight market, stay informed on crucial developments affecting your shipping experience. Subscribe to our newsletter for exclusive tips and navigate the complexities of logistics with confidence.

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<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">The U.S. Department of Transportation’s Maritime Administration (MARAD) has allocated over $653 million for infrastructure enhancement at 41 ports across the country through the PIDP.</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">In October, the U.S. witnessed the import of 2,307,918 twenty-foot equivalent units (TEUs) of containerized goods, reflecting a 3.9% year-on-year increase and a 4.7% rise from September.</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">A recent report by Alphaliner reveals that slightly over 20% of the global container fleet is aged 20 years or older, constituting a total capacity of 2.9 million twenty-foot equivalent units (TEU).</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">The ILA has reiterated its commitment to a potential strike if a new labor contract is not reached by September 30, 2024.</li></ul>Read on for more in-depth updates.

Freight market update - 15 November 2023

Stay informed about the latest developments and insights in the freight market with Beeontrade's comprehensive weekly market update for November 1, 2023. Gain valuable knowledge about key trends, market stability, and projections for various trade routes. Subscribe for exclusive tips on freight forwarding, ensuring a smooth shipping experience for your business.

Beeontrade Freight Market Update - Nov 1, 2023

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<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">The North American market remained stable in October.</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">The North American cold chain market is projected to achieve a value of $104.1 billion by 2028.</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">The Ocean Alliance is expected to experience significant growth in the coming years.</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">The International Air Transport Association (IATA) plans to release a Net Zero Tracking Methodology report in the fourth quarter of 2024.</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">Congestion on U.S. highways resulted in a cost of $94.6 billion to the trucking industry in 2021, a notable increase from $74.5 billion in 2016.</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">The 2M Alliance is implementing a "winter schedule" on the Asia-North Europe trade from the end of October until mid-December.</li></ul>Read on for more in-depth updates.

Freight market update - 1 November 2023

Stay updated on the latest trends and insights in the freight market with Beeontrade's comprehensive weekly market update for October 25, 2023. Subscribe for exclusive tips on freight forwarding and gain valuable knowledge for informed business decisions.

Beeontrade Freight Market Update - Oct 25, 2023

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<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">As of October 9th, inactive capacity reached a total of 315 ships, equivalent to 1.18 million TEU.</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">Shipping rates from Shanghai to Europe and the USA are currently high and are not expected to decrease in the near future.</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">The Port of Long Beach achieved its busiest September ever, handling a total of 829,429 twenty-foot equivalent units (TEUs).</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">The surge in cargo activity is due to a demand for holiday-related products and the recent approval of a labor agreement.</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">In the third quarter, the 3 major US airlines reported significant revenue growth in their core passenger operations, but their cargo revenues decreased notably.</li></ul>Read on for more in-depth updates.

Freight market update - 25 October 2023

Stay informed on the latest developments in the freight market with Beeontrade's comprehensive weekly market update for October 18, 2023. Subscribe for exclusive tips on freight forwarding to enhance your shipping experience.

Beeontrade Freight Market Update - Oct 18, 2023

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<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">Recent analysis by Clarksons Research indicates that cargo owners are paying higher prices for shipping their goods in the current decade.</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">Potential risks for ocean shipping amid Israel-Hamas conflict.</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">In September, U.S. container import volumes increased by 0.3% compared to the previous month, totaling 2,203,452 TEUs.</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">The Baltic Exchange Airfreight Index (BAI) reported a 0.7% increase in the overall BAI for the week ending on October 9, cutting its year-on-year decline to -29.2%, potentially indicating a peak season rebound.</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">CMA CGM is allocating $600 million to enhance its recently acquired terminal operations in New York and New Jersey, aiming to increase capacity by approximately 80%.</li></ul>Read on for more in-depth updates.

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