Radiant's Freight Market Update

This week: EU launches sweeping tariffs in response to U.S. trade measures; Tensions rise as Houthis threaten to resume attacks on merchant ships; Trucking industry rebounds but specialized markets face uncertainty.

Current Critical Industry Trends

EU launches sweeping tariffs in response to U.S. trade measures. The EU has announced countermeasures on $28 billion of U.S. goods as it reacts to increased tariffs on steel and aluminum. De minimis exemptions for Canada and Mexico hold for now, but threats of 200% tariffs on European wine and champagne add to the tension, fueling concerns over rising costs and supply chain disruptions.

Tensions rise as Houthis threaten to resume attacks on merchant ships. After a four-day deadline expired, Houthis declared a ban on Israeli vessels in the Red Sea, Arabian Sea, and Bab al-Mandab Strait. Over 100 ships were targeted between late 2023 and 2024. Shipping companies are now reassessing risks and security protocols. The situation remains volatile as Israel maintains its aid blockade.

Ocean

Germany’s Port and Canal strikes set to disrupt trade. A three-day strike will shut down the Kiel Canal, impacting short-sea shipping and delaying cargo at the Port of Hamburg. One in three containers passing through Hamburg rely on this key waterway.

Container spot rates swing as carriers rely on blank sailings. Global shipping faces volatility, with transpacific rates dropping 26.57% in February. Asia-Europe rates have fallen nearly 50% since January, while blank sailings surge by 449% to stabilize capacity and pricing.

Ports

New York-New Jersey port sees January growth amid import surge. Container volumes hit 720,283 TEUs, marking the port’s third-highest January ever. Loaded imports climbed 10.3%, continuing the momentum from 2024’s strong demand.

International

China pushes back against U.S. port fees on Chinese-built ships. With 37.8% of the global containership fleet built in China, new U.S. fees could raise shipping costs and disrupt supply chains. A public hearing is set for March 24.

Trucking

Trucking industry rebounds but specialized markets face uncertainty. Seasonal demand swings continue to shape freight trends. Reefer volumes dropped 8.31% from January to February, while tanker markets saw a 36.4% summer peak.

Rail

Breaking barriers, women steer rail freight into the future. A female-led freight train showcased women’s growing influence in logistics. Network Rail highlights that over 33% of management roles are now filled by women.

Air

Hactl strengthens global connectivity with Hungary airlines partnership. New Budapest-Hong Kong cargo service boosts trade between Greater China and the EU. Plans for expansion into the USA and Middle East are already in motion.

Technology

Greenlane expands EV charging network with smart tech integration. The Colton facility will offer seamless fleet management and real-time charger reservations. A $26M investment fuels rapid expansion along I-15.

Other

Captain arrested after North Sea collision sparks investigation. The Solong containership collided with the Stena Immaculate tanker, rupturing a fuel tank and causing a fire. One crew member is missing, and pollution concerns rise.

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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.