Q4 2024 Market Report: Navigating global freight trends

As we enter the final quarter of 2024, global freight remains under pressure. Congestion and capacity constraints continue to strain supply chains, especially as shippers prepare for the peak season.

Ocean freight demand remains strong, particularly on Asia-Europe and Asia-Americas routes. However, the recent strike, along with existing capacity shortages and port congestion, has pushed rates higher. Global schedule reliability dropped to just 52%, and delays are expected to persist.

In air freight, demand for eCommerce and high-tech goods is surging, with rates rising due to tight capacity, particularly from Asia to Europe and North America.

Road and rail freight costs are also climbing due to fuel price hikes and limited capacity. Bottlenecks in China-Europe rail services are driving rates higher, adding further strain to global supply chains.

To navigate these challenges, businesses should plan proactively, secure logistics early, and remain flexible to mitigate disruption.

 

Download the Q4 2024 Market Report for more insights on navigating the complexities of the current global trade landscape.