Radiant's Freight Market Update

This week: Ports close as Hurricane Milton makes landfall; The electric vehicle boom increases risks for cargo ships; Air carriers are experiencing growth in transporting heavy/oversize cargo.

Current Critical Industry Trends

Hurricane Milton made landfall in Florida on Wednesday evening. The destructive storm swept its way across the state on Thursday. Numerous seaports along the Florida coastline are closed or operating with restrictions, while millions of residents are grappling with power outages and heavy rainfall.

Ocean

The electric vehicle (EV) boom increases risks for cargo ships. The lithium-ion batteries in EVs pose unique hazards and create new training needs for maritime industries. Ignoring these risks could lead to devastating consequences.

Canadians willing to pay extra for reduced carbon emissions on imported goods. A recent study shows that about two-thirds of Canadians are willing to pay up to 5% more on shipped goods to support decarbonization efforts in freight shipping. Consumers are looking to hydrogen as a potential green fuel source.

Ports

Last week’s three-day port strike has left numerous vessels waiting to load and unload. Ports along the East and Gulf coasts are experiencing backlogs that may take the rest of the month to clear. Carriers respond by rerouting freight and adjusting fees and surcharges.

Trucking

Trucking industry provides critical support in wake of Hurricane Helene. Supplies and other emergency materials are being transported continuously to support those affected by the devastating destruction caused by Hurricane Helene.

Truck drivers across Canada are expressing the need for improved rest areas. Hundreds of truckers participated in a recent study that highlighted the lack of clean washrooms, poor food choices, and unsafe parking conditions.

Rail

Canadian National receives the green light for a new intermodal terminal. The Canadian appeals court has ruled to allow the construction of the new facility in Milton, Ontario. The $250-million project should double existing lines of track.

Air

Air carriers are experiencing growth in transporting heavy/oversize cargo. Airlines have seen an increase in the movement of high-end vehicles, heavy equipment, and commercial vehicles in recent times. Investments are being made in both personnel and equipment.

Vienna Airport announces its certification to handle lithium batteries. The IATA CEIV certification focuses on safety standards, process and quality controls, as well as regular training and audits.

International

Canada looks to unlock its offshore wind potential. A new bill, C-49, has been introduced to harness the offshore wind in Nova Scotia, Newfoundland, and Labrador, supporting the country’s goal of becoming a leading supplier of clean energy.

Technology

Autonomous vehicle firms are eyeing Texas as the next location for run lanes. Test routes conducted in Bentonville, AR, and Toronto, Canada, provided valuable information for scaling operations and establishing more driverless lanes.

Other

New elite lounge at Johannesburg airport reserved for the most exclusive passengers - fur or feathers may be required! The Pet Lounge was designed to provide a calm environment for unaccompanied live animals. The dedicated staff at the lounge ensures that the travelers receive the highest level of care and safety.

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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.