
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.
Global air cargo capacity rises 10% over 2019 as Red Sea crisis and Lunar New Year lift transpacific and Asia-Europe air yields into late January.

Global air cargo tonnages rebound after Thanksgiving as experts preview Panama Canal, Transpacific, and Middle East trade lane updates, December 13, 2023.

December Transpacific rates are expected to rise after heavy November blank sailings, while the Far East Westbound market stays flat with slight rate declines.

Carriers pushed December TPWB rate increases as 2M reshuffled US services and weak Asia-Europe demand led some lines to consider suspending winter loops.
The Panama Canal cuts daily transits to 31, risking 2-3 day delays, while record-low Amazon River levels in Brazil disrupt LATAM ocean routings.

Golden Week blank sailings reshape Transpacific and Asia-Europe capacity as Panama Canal weight limits hold steady for late September 2023.

Transpacific capacity stayed oversupplied as carriers added blank sailings, Transatlantic rates fell on weak demand, and imports shifted to the US East Coast.