
Freight Market Update: March 14, 2024
Flexport shares top takeaways from TPM '24 in Long Beach, where Red Sea risks, Panama Canal restrictions, and ILA contract talks fueled supply chain uncertainty.

Flexport shares top takeaways from TPM '24 in Long Beach, where Red Sea risks, Panama Canal restrictions, and ILA contract talks fueled supply chain uncertainty.

Red Sea disruptions drive surging Asia-Europe sea-air demand, more than doubling Dubai-Europe air cargo volumes following the Lunar New Year dip in March 2024.

Red Sea disruptions surge sea-air volumes through Dubai, Colombo, and Bangkok, lifting air tonnages to Europe by up to 71% in early 2024.
Transatlantic westbound rates jump $500/TEU as Red Sea surcharges take hold, with further increases expected in March amid tight equipment across Europe.

Red Sea disruptions push Asia-Europe cargo from sea to air as global air demand jumps and ocean spot rates triple in early February 2024.
Global air cargo volumes rebound strongly in early 2024, lifted by Asia-Europe demand and Red Sea shipping disruptions, in the January 24, 2024 update.

The Red Sea situation drives Transatlantic rate increases and pushes carriers including the Ocean Alliance and 2M to cut capacity through blank sailings.

Freight Market Update for December 19, 2023, as Red Sea attacks push ocean carriers to halt Suez Canal transits and reroute around the Cape of Good Hope.