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In this week’s Freight Market Update, equipment shortages and port congestion in Asia are beginning to improve, though still fall short of meeting current demand. Blank sailings are expected in July and August on Far East Westbound (FEWB) trade lanes. In the Mediterranean, carrier utilization has reached 100%, driving up rates for both West and East Mediterranean routes in July. Global air cargo tonnage dropped 5% (June 17-23, 2024), but rates rose 1% to $2.54/kg—10% higher than last year, and 43% higher than pre-COVID levels. Check out the full update for more and subscribe today to stay on top of the latest news and trends from around the industry. #supplychain #logistics #freightmarket #freightindustry #oceanfreight #oceancargo #oceanshipping #airfreight #aircargo #airshipping #trucking #intermodal #railfreight

Freight Market Update: July 3, 2024

Freight Market Update: July 3, 2024

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Babu Md Nur Islam

CEO at Demotrans - Bangladesh & Cambodia

3d

It sounds like the freight market is playing a game of musical containers" with all those blank sailings and equipment shortages! 🚢🎶 At least the Mediterranean routes are fully booked—guess everyone's dreaming of a Mediterranean summer! ☀️🏖️ Thanks for the update, always good to stay ahead of the cargo curve! 📦📈 #FreightMarketFun #Demotrans

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