30-Dec-2024

In air cargo, Freightos Air Index data show that transpacific rates eased to US$5.67/kg last week from highs of around US$7.00/kg earlier in December as peak season for air closes. China – Europe prices came down to about US$4.25/kg after surpassing the US$5.00/kg level earlier in the month and transatlantic prices are down to US$2.30/kg from an early-December high of US$3.16/kg.

Ocean rates out of Asia overall trended up slightly to end the year, but with Lunar New Year (LNY) approaching and a range of January GRIs announced for the transpacific, container prices on these lanes could face upward pressure to start 2025. A seasonal decrease in demand starting later in February should see rates ease on the ex-Asia lanes, though Red Sea diversions will keep them elevated well above long term averages just as they were through 2024.

Pre-Lunar New Year demand will combine with higher than normal volumes for this time of year into the US. And the post LNY dip in volumes will likely be less pronounced than usual too as many US shippers continue to frontload ahead of expected tariff increases, with this pull-forward already reflected in record November volumes at the port of Long Beach.

Since the 2017 start of the US – China trade war, Chinese imports to the US have fallen while Mexican imports increased. But at the same time, Chinese investment in and trade with Mexico surged. And with Mexican tariffs usually lower than US duties, the USMCA facilitating low-barrier trade between Mexico and the US, and the INMEX programallowing many imports destined for the US to enter Mexico duty-free, many of these Chinese imports were arriving in Mexico as a channel to the US market.

Last week though, Mexico’s President Sheinbaum signed an act that immediately raised tariffs on apparel imports from countries including China to as high as 35 PERCENT. The act will also essentially close INMEX to certain categories of textiles and apparel, challenging importers who had relied on these methods to reduce their exposure to US duties, including e-commerce sellers for whom INMEX was key to their decisions to import via Mexico. In January, the government will also start enforcing stricter reporting requirements for B2C e-commerce imports.

In other recent trade war-related developments, Panama rejected President-elect Trump’s recent accusation that China exerts control over the Panama Canal.

Volume strength relative to last year, together with Red Sea-driven capacity reductions kept 2024 transatlantic container rates above the loss-making lows seen in 2023, with prices around the $2,500/FEU level since October. Though rates dipped 10% last week, carriers are announcing January disruption surcharges for this lane in anticipation of a possible mid-month ILA strike. A prolonged strike would cause congestion and disruptions that could put additional upward pressure on East Coast lanes in January.

The post Mexico increases trade barriers for Chinese imports appeared first on Air Cargo Week.

Go to Source
Author: Edward Hardy

In June, a UK Royal Navy destroyer and Dutch Royal Navy ship safely moored in Odessa, Ukraine, were spoofed to locations off-shore of a Russian naval base on Crimea. One week later, it was a US Navy ship moored in the same port that was spoofed (above). These are interesting cases in several ways. First, how […]

One Month After Massive Explosion, Another Fire at Port of Beirut

A massive fire broke out at the Port of Beirut on Thursday, incinerating a warehouse full of tires and oil within the port’s free zone. The same area was heavily damaged in the ammonium nitrate explosion that leveled the central port area and the adjacent waterfront on August 4. According to Lebanon’s civil defense agency, […]

Video: Australian SAR Plane Airdrops Emergency Supplies to Freighter

Over the course of the past five days, the Australian Maritime Safety Authority arranged a medical intervention for an injured aboard a freighter in the Indian Ocean. On Saturday evening, the Spliethoff tweendecker Dolfijngracht called for assistance while under way about 1,000 nauical miles off the coast of Western Australia. A crewmember had sustained serious […]

UK Government’s new post-Brexit tariff regime will see winners and losers

The UK government’s new post-Brexit tariff regime will result in both winners and losers. The new regime is set to replace the European Union’s Common External Tariff from the end of the Brexit Transition Period on December 31, 2020. The UK’s commitment to the ongoing Brexit process and ending the UK’s transition from EU membership […]

Proceeding with Methanol as Fuel While Ammonia is Developed says EPS

As the shipping industry works to develop its path towards decarbonization, one large shipowner has decided to use the existing technology to start a conversion to methanol while longer-term solutions continue to be developed. Eastern Pacific Shipping, which has a fleet of containerships, dry bulk carriers, and tankers totally 15 million dwt, will work with […]

Fiji Recovers Patrol Boat Three Weeks After Grounding on First Patrol

Three weeks after its new patrol boat RFNS Puamau grounded during its first patrol, the Fiji Navy is reporting the vessel was safely recovered and is being towed to port for an inspection. The vessel, valued at approximately US$10.6 million, grounded on June 10 in the remote Lau group of islands, with ABC News […]

Launching Of Deme’s First SOV Groene Wind

The First DP2, Twin-Hulled SOV in the World, NB72 Groene Wind met the Sea on September 29. 2020 in Yalova, Turkey. The Groene Wind will be directly chartered to Siemens Gamesa Renewable Energy for the maintenance of the Rentel and Mermaid & Seastar (known as SeaMade) offshore wind farms in Belgium. This is the first DP2, […]

100 million face masks moved

DSV Belgium has solid experience in the transport of pharmaceutical products for different customers. With a pharma hub based at Brussels Airport a lot of experience and know-how has been built up over the years. Last weekend, the forwarder handled one hundred million mouth masks, an important milestone for its Belgian organisation that has put […]

Emirates SkyCargo drives optimisation of cargo capacity on flights

With close to 100 daily cargo flights operated to a destination network spanning more than 65 cities across six continents, Emirates SkyCargo is delivering essential supplies and commodities to people around the world. The air cargo carrier is currently operating 11 Boeing 777 freighter aircraft, each with a capacity to transport about 100 tonnes of […]

UNCTAD’S report on global e-commerce sales gives confidence to U-Freight

The U-Freight Group (UFL), with its considerable involvement in eCommerce logistics, says that the latest statistics showing that global e-commerce sales hit $25.6 trillion in 2018 are a further vindication of its decision to enter this sector of the international freight market several years ago. The latest available estimates, up 8% from 2017, were recently […]

Callan Marine’s General Pershing Begins Work on Bolivar Ferry Terminal

Callan Marine is serving as the prime contractor to the Texas Department of Transportation for a maintenance dredging project located at the Bolivar Ferry Terminal, in Galveston, Texas. Work began in May and is estimated to be complete in late July 2020. The project consists of the removal of 600,000 cubic yards of material and […]

NTSB: Survey Did Not Detect Hazard

The National Transportation Safety Board (NTSB) has released a Marine Accident Brief about an accident that occurred on April 15, 2019, involving the towing vessel DeJeanne Maria which struck the end of a submerged dredge pipeline while pushing two spud barges to the Gulf of Mexico. The incident occurred on the Mississippi River in Pass […]

US and Bahrain Conduct Joint Exercise in Arabian Gulf

The naval forces of the US and Bahrain recently staged a joint force training exercise which showcased the interoperability between coalition warships operating I the Arabian Gulf. Coalition Task Force Sentinel executed combined exercise Sentinel Shield supporting Sentry and Sentinel patrols in the coalition’s area of operations. The guided-missile destroyer USS John Paul Jones and […]

PPE shipments land at Düsseldorf

Best known as a leading passenger airport serving Germany’s most populated federal state North Rhine-Westphalia, Düsseldorf has become transformed into a vital distribution point, during the COVID 19 pandemic, for medical equipment and other life-saving goods, mostly from China. Gerton Hulsman, managing director of cargo operations, reports that the handling teams are working hard to […]

FAA allows certificate holders to keep working

Operators can continue to use pilots and other crew members who have unable to comply with certain training, recent experience, testing, and checking requirements due to the COVID-19 outbreak in support of essential operations. Additionally, this Special Federal Aviation Regulation (SFAR) provides regulatory relief to certain persons and pilot schools unable to meet duration and […]

Astral Aviation increases flights within Africa during Covid-19

Astral Aviation has increased its intra-African network with cargo freighters during the pandemic. While there has been a reduction in capacity to, from, and within Africa, which has been caused by a stoppage of passenger flights and limited frequencies on freighter aircraft, Astral Aviation continues to operate cargo freighters from its Nairobi hub to 13 destinations […]

Mexico increases trade barriers for Chinese imports

Popular News