Radiant's Freight Market Update

This week: Port strike from Maine to Texas on the horizon; Truck cargo theft sees increase in 2024; Canadian government intervenes in rail strike; Challenges exist for maritime industry as it strives for net-zero emissions.

Current Critical Industry Trends

The Canadian government orders operators to resume operations. The worker-imposed stoppage was halted after only a few hours. Trains are expected to be back to running in days.

Port strike from Maine to Texas looms as contract expiration nears. The contract between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) is set to expire September 30. The ports are preparing to strike on October 1.

German port union rejects offer after fourth round of negotiations. Two variants of an offer were presented to the union, both of which were deemed inadequate. The contract with union employees expired earlier this year, leading to warning strikes across Germany.

Ocean

Multiple fires are ablaze on the Sounion in the Red Sea. The tanker is carrying over 150,000 tons of crude oil. The EU naval force warns of an imminent environmental hazard.

Ocean leasing companies have announced that they are fully booked until mid-October. This is driven in part by the Red Sea crisis, which is causing longer transit times for ocean cargo. Additionally, delays have increased due to congestion at transshipment hubs.

Ports

The Port of Lobito has shipped its first load of copper destined for the United States. Copper cathodes bound for Baltimore left the port last week, highlighting the growing supply of services at the Port of Lobito.

Port workers in India called off their strike on Wednesday. Around 20,000 workers agreed to new terms in a five-year deal. Union leaders approved the deal, which provides pay increases over the next five years.

Trucking

Truck cargo theft has increased by 49% year-over-year. A total of 787 incidents occurred in the United States during the first half of 2024. Thieves target specific shipments and are increasingly becoming more violent towards the drivers.

Air

CMA CGM Air Cargo expands its air cargo offerings. A new route between Hong Kong (HKG) and Chicago O’Hare (ORD) has opened with the delivery of their newest 777-200 freighter. CMA CGM Air Cargo plans to add more freighters by 2025.

International

Canada imposes a 100% surtax on Chinese-made electric vehicles. Steel and aluminum products from China will also see a 25% surtax imposed. These steps are being taken to ensure Canadian businesses and workers can remain competitive.

SkyCourier has gained type certification in the Philippines. The freighter variant of the Cessna can handle up to three LD3 containers and offers 6,000 pounds of payload. The first plane is set to be delivered to the Philippines in the second half of 2025.

Technology

Artificial intelligence aids in maritime safety. New technology from Sea.AI provides detection, classification, and risk assessment with a 360° view. The tech can differentiate between large vessels, smaller craft, and objects such as humans or buoys.

Other

The maritime industry faces numerous challenges as it strives for net-zero emissions. The use of various low-emission fuel sources is on the rise, and with it, several special factors related to storage, bunkering, handling, and safety should be considered.



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The Radiant Network's supply chain and logistics updates provide valuable insights on freight trends, customs regulations, global news, economics, tech, and more. The Radiant Network includes the brands Radiant World Trade Services, Radiant Global Logistics, Radiant Canada, Radiant Road & Rail, Adcom, Airgroup, SBA, and Distribution By Air.

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Radiant World Trade Services is a part of Radiant Logistics, Inc. (NYSE American: RLGT), a publicly traded third-party logistics company that provides technology-enabled global transportation and value-added logistics solutions to a diverse account base. They offer comprehensive services including freight forwarding, truck and rail brokerage, warehouse and distribution, customs brokerage, order fulfillment, inventory management, and technology services. Radiant has an extensive network of offices throughout North America and other key markets worldwide.