You will find our expert insights and market analysis on the following pages.
Geopolitical shifts and economic uncertainties influence global trade dynamics, making adaptability and innovation more crucial.
1. AIR FREIGHT
2024 was a busy year for the airfreight sector, as demand showed double-digit growth for 14 consecutive months, with very strong dynamics, especially from Asia into the EU and North America.
The Middle-East / South Asia region closed the year with rates 41% above 2023 levels, as the hubs of key airlines such as Qatar Airways, Emirates, and Saudi were busy carrying cargo from all origins into EU/US or used for transshipment by combined sea/air mode.
Exports out of Europe were rather stable throughout the year, except during the last months to the US ahead of the change of administration.
E-commerce was the key driver of air cargo growth, grabbing almost all available capacities out of Asia, and pushing rates up on the westbound routes.
Airfreight volumes out of China grew by 27% (see chart). Neighboring countries such as Vietnam & Thailand were also feeling the impact of e-commerce, with shipments originating from China going to the EU and North America transiting via Bangkok, Phuket, Hanoi, and Saigon.
Several other airports in the region were also under the same pressure linked to e-commerce activities, with a strong peak during Q4 2024.
2. OCEAN FREIGHT
Market Context
After December when the market seemed to have peaked, January witnessed the start of evident downward pricing corrections on almost all trade lanes, a few weeks ahead of the Lunar New Year. Stockpiling movements appear to be slowing down, following months of strong front loadings on major East-West trades, particularly on the transpacific eastbound routes, and in a shorter period on the Asia to Europe and Transatlantic trades.
Looking at February, the current blank sailing programs for the next four weeks might be just enough to hold up further rate erosion.
Following a statement by the Houthis to hold attacks on non-Israel-involved fleets, many rumors have circulated about an imminent return of containerships via the Red Sea. However, with the ceasefire between Hamas and the Israel Defense Forces being fragile, the current consensus is that vessels will continue to be diverted via the Cape of Good Hope for a couple of months to come.
Finally, next month will see the launch of several new services amid a large-scale reshuffling of alliances.
3. RAIL FREIGHT
Market Context
Volumes shipped by rail have increased and rates have been falling since this week.
The average full-time rate at 10.000 USD compared to 12.000 USD three weeks ago. China thinks about its 2025 quotas.
4. CUSTOMS
On 21 January 2025, phase 5 of the French Customs’ transit system called “ Delt@ T”, used to create and discharge transit declarations (T1 and T2) entered into force. Since then, French operators have been experiencing IT issues that are currently being investigated by French Customs and will hopefully be solved soon.
It must be noted that the major change with Delt@ T P5 is the obligation to declare the 6-digit customs tariff code of each article placed under the transit procedure. As such, clients requesting that their goods be placed under the transit procedure will be required to provide all customs tariff codes.
Failing to do so may result in delayed customs formalities and additional costs.
5. ROAD BROKERAGE EUROMED
Upcoming deadline for the French customs administration to implement a new step of customs transit IT system called Delt@ T. As a reminder, when goods enter the European customs territory, they travel under customs transit to the place of clearance.
A transit declaration is raised from these entry points: Marseille Port, Sète Port, Algeciras, etc. to bring the goods to our bounded warehouses or those of our clients.
French customs developed a new step of the tool called Delt@T to establish transit declarations and have been implementing it since the end of October 2024.
