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Radiant's Freight Market Update

Sep 25, 2024

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This week: Strike preparations begin at the Port of New York-New Jersey; Destructive weather is driving major losses; Florida awarded $18 million in grants to expand rail and supply chain capacity.

Current Critical Industry Trends

Strike preparations begin at the Port of New York-New Jersey. Shippers are advised to prioritize refrigerated containers and hazardous materials cargo.

Destructive weather is driving major losses. As typhoon season intensifies, recent storms like Hurricane Helene have the potential to significantly disrupt global supply chains. Recent powerful storms have resulted in billions of dollars in losses, including food production and shipping logistics.

Ocean

Offshore wind turbine-based charging tests have been considered a success. The ability to charge vessels offshore is vital for sustaining zero-emission Service Operation Vessels.

Trucking

More truck parking is coming soon! Outpost announced more than 1,700 tractor-trailer spaces at four key U.S. logistical hub sites. The latest facility, set to open in October, will offer more than 1,000 spaces.

Rail

Grain exports to Mexico are disrupted as BNSF and Union Pacific halt shipments due to rail capacity constraints and backlogs at Mexico's Ferromex. The congestion has led to embargoes and a permit system, creating challenges for U.S. agricultural shippers ahead of the fall harvest. These delays could hurt trade competitiveness and increase financial pressure on farmers during peak season.

Florida awarded $18 million in grants to expand rail and supply chain capacity. Part of a $100 million, five-year plan, the grants will increase aggregate storage and rail access, supporting the Moving Florida Forward initiative. Key projects include new terminals in Plant City and Lake City.

Air

Lufthansa Cargo and Swiss WorldCargo have announced changes to their Airfreight Surcharge (ASC), which will take effect on January 1. The new fee will include the cost of Sustainable Aviation Fuel (SAF), starting with an initial blending quota of 2%.

International

Canada looks at proposed U.S. ban on Chinese-made automotive technology. Finance Minister Chrystia Freeland highlighted security threats and the lack of standards as key concerns.

An international merchant ship hit in the Black Sea on Friday. The missile strike on the Golden Lion, marks the second attack on a vessel in the region this month.

Other

New food traceability requirements in the U.S. are set to begin on Jan. 20, 2026. Major questions continue to arise as retailers prepare for these significant changes.





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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.