FREIGHT MARKET UPDATE | WEEK 50 | 2024

Container shipping demand stays strong in Week 50 as we head into late December and January, especially on the PSW and PNW routes. There are three main reasons behind this: volumes are shifting away from USEC routes, seasonal surges ahead of Chinese New Year, and front-loading activity due to the proposed U.S. tariff changes.

Capacity constraints could become a bigger issue in the coming weeks. The USEC has seen further capacity reductions as shippers reroute to the West Coast. PNW services are seeing more blank sailings, mainly because of delays from the November labor stoppages at Canadian ports. Because of this, PSW services are expected to feel the pressure, with available space tightening as volumes shift from both USEC and PNW routes.