Radiant's Freight Market Update

This week: East and Gulf Coast ports strike on Oct. 1; Haiti’s main seaport attacked by gangs for a second time this year; Hurricane Helene leaves destruction in its wake.

Current Critical Industry Trends

The International Longshoremen's Association (ILA) has launched its first major strike since 1977, shutting down ports along the East and Gulf Coasts on Oct. 1, 2024. ILA President Harold Dagget joined picket lines on Tuesday along with thousands of fellow members at ports along the New Jersey coast.

Multiple ports along the East and Gulf Coasts have initiated Work Stoppage Protocols. Shippers should expect to see additional costs and fees during this period. The affected ports include Baltimore, Boston, Charleston, Jacksonville, Miami, Houston, Mobile, New Orleans, New York/New Jersey, Norfolk, Philadelphia, Savannah, Tampa, and Wilmington.

As of Wednesday, over 45 container vessels anchored outside the striking ports, a substantial increase from the three vessels anchored on Sunday. The vessel backlog could double by the end of the week, which could take weeks, if not months to clear.

Ocean

Wuhan Innovation Jianghai Transportation orders 16 methanol fueled river-sea bulk vessels. These vessels are the first in China to run exclusively on methanol, promoting a shift toward more environmentally sustainable shipping solutions.

Ports

Haiti’s main seaport attacked by gangs for a second time this year. The port closed for a few days after the attack. Stabilizing the port is critical, as it handles 80 percent of the commercial cargo that enters the country.

Trucking

The Canadian Federation of Independent Business supports a new pilot project for the trucking industry. This project aims to recognize the regulatory requirements of each region. This initiative could help boost the economy by eliminating some of the internal trade barriers that currently exist.

Rail

Hurricane Helene leaves destruction in its wake. Railroads have suffered devastating damage, including the complete loss of a 375-foot bridge in North Carolina. CSX’s Clinchfield line is expected to remain out of service for the foreseeable future.

Air

Navi Mumbai International Airport is set to begin operations on March 31, 2025. The airport's location is attractive to shippers, who are showing strong interest in obtaining slots, particularly those in the perishables market.

International

22,500 sq m facility coming to Western Sydney International Airport. Menzies Aviation signed a 20-year lease on the facility which is expected to increase air cargo capacity by over 30%.

Technology

Fossil-free plastic on the horizon with innovative production method. Vioneo uses methanol as feedstock and produces fossil-free polypropylene and polyethylene.

Other

Kraft Heinz procurement experts volunteer to support Rise Against Hunger by addressing procurement, customs clearance, and supply chain challenges. Their efforts aim to improve aid distribution for the non-profit. In 2023, Rise Against Hunger successfully distributed over 20 truckloads of food.

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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.