Six Key Factors to Watch in the Second Half of 2024
The below factors could be central to the way the ocean freight shipping market develops during the final months of 2024 and beyond
Demand
What's driving demand?
Longer sailing distances increases TEU miles while some shippers respond to the current situation by frontloading importers.
Macro-economics and shifting trade alliances between nations also comes into play.
Capacity
2024 has seen further record-breaking numbers of new ships delivered, but the overcapacity previously expected in 2024 has not materialised.
How has the balance of power shifted to carriers and what can shippers do about it?
Short-long market spread risk
The spread between the short- and long-term market presents a big risk to shippers – and it may get worse before it gets better.
Understand how you can move to protect your supply chains.
Industrial Action on the US East & Gulf Coasts
Union action is being seen in the US and Europe, but what are the implications and what can you do to protect supply chains at a time when disruption and congestion is already having a hugely detrimental impact.
Break-up of Alliances
The shifting landscape of alliances in ocean freight shipping will present risks for shippers, especially in an already turbulent market.
But, it could also present opportunities.
Carbon Emissions
Conflict in the Red Sea has brought massive carbon emissions increases with the Xeneta and Marine Benchmark CEI hitting the highest its highest ever level.
Can you afford to prioritise carbon emissions at a time of supply chain disruption and elevated freight rates?