Radiant's Freight Market Update

This week: President Trump has declared April 2 as "Liberation Day"; A surge in cargo thefts is prompting action from fleets and insurers; Halifax Port launches truck appointment system to ease congestion.

Current Critical Industry Trends

President Trump has declared April 2 as "Liberation Day," anticipating the implementation of expected tariffs on that date. However, he noted that not all tariffs will take effect on April 2. Reciprocal tariffs remain under consideration, with the administration signaling that additional tariffs may be introduced in the future.

A surge in cargo thefts is prompting action from fleets and insurers. Sophisticated, tech-driven schemes are stealing millions in goods, often without detection. As these thefts increase, insurance premiums are expected to rise as well.

Ocean

Containership diverts to Vigo after storm-driven container collapse. Winds reaching 50 knots off Portugal caused 15–20 containers to fall overboard. Port officials launched a complex crane operation to stabilize the 4,432 TEU vessel.

Greece pushes for EU and IMO unity on emission rules. Greek-owned fleets make up 20 percent of global and 60 percent of European shipping. Minister Kikilias warns strict EU-only rules could hand advantage to competitors.

Ports

Halifax Port launches truck appointment system to ease congestion. Over 4,000 truck appointments have already been made since March 1. Daily truck volumes average between 450 to 550 across two terminals.

DP World to transform London gateway into UK’s largest container port. The £1 billion expansion begins in May and will add 50 percent more capacity. It is expected to create over 1,400 jobs and support 90 percent port schedule reliability.

International

Green maritime shift underway as UK joins ETS for shipping. Starting in 2025, operators must pay for emissions and adopt cleaner fuels. The move aligns with EU policies and aims for net zero by 2050.

Trucking

Big changes ahead as freight class overhaul favors denser loads. Less dense cargo will cost more while heavier loads may get cheaper. The update marks the largest shift in LTL classification history.

Rail

US rail shines in latest infrastructure scorecard but climate threats grow. Extreme weather events are stressing key corridors and bridge networks. ASCE projects $145 billion in needed investment over the next decade.

Air

£5.43 million worth of goods were disrupted during the shutdown of Heathrow Airport last Friday. A power outage grounded all flights for about a day, with the total cost of the disruption estimated in the millions. This includes lost perishable items, aircraft rescheduling, and idle equipment.

Technology

The $100 million Motion Ventures Fund II is a groundbreaking initiative focused on advancing shipping and maritime technology. The fund aims to invest in startups targeting digital tools, cleaner operations, and improved port infrastructure, driving innovation and sustainability in the maritime industry.

Other

A new report on last-mile delivery reveals key insights, focusing on packaging waste, returns, and rising consumer expectations. It highlights that consumer demands are consistently surpassing current service performance levels, presenting challenges for the industry. The report underscores the importance of addressing these concerns to meet evolving customer needs and improve efficiency in last-mile operations.

Canadian police have successfully recovered $1.45 million worth of trucks, trailers, and cargo in connection with a re-VINning operation. Peel Regional Police made a breakthrough earlier this March, dismantling the scheme and returning two loaded reefer trailers to their rightful owners. The investigation highlighted how criminals altered the Vehicle Identification Numbers (VINs) of the stolen vehicles to resell them.

Plans to build hypersonic cargo aircraft are underway. Hyperian Aerospace is currently developing the 10-ton capacity HYPERliner, claiming it can deliver cargo anywhere in the world in 90 minutes or less.

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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.