[Feb. 2025] Logistics Market Intelligence Report

: SCFI index falls for 4th week due to tariff risk, dropping below 2,000 for the first time in 9 months.
The January Europe and South America SCFI fell 18% MoM due to economic slowdown and alliance reshuffling.

(Source : Shanghai Shipping Exchange )

: SCFI comprehensive index declines during Chinese New Year, volatility expected to rise due to future tariff risks.
Q1 2025 average SCFI forecast: USWC $3,523 / USEC $4,726 / N.Europe $2,396 / S.America $4,767

(Source : SamsungSDS Brightics)

: Major US ports are expected to sustain high import volumes despite the ILA strike cancellation.
The supply growth rate peaked at 10.1% in 2024, and is expected to slow down from 2025. Although supply remains dominant, the supply-demand gap is expected to narrow to 0.7% in 2026.

(Source : Clarksons Research)

: [Asia] Hong Kong's Container Throughput Set to Hit 28-Year Low in '24
- Hong Kong's container throughput in 2024 fell to 13.7 million TEU, the lowest since 1996, mainly due to increased competition from mainland Chinese ports.
- The government and industry are discussing measures to strengthen Hong Kong's shipping sector to maintain its status as an international port hub.

: [Americas] U.S. East Coast port labor agreement reached
- The International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) have reached a tentative six-year master contract, covering all aspects, including automation.
- After agreeing to a 62% wage increase following the October 2023 strike, disputes over port automation led to six consecutive weeks of rising freight rates from mid-November. With six days left before the January 15 deadline, both sides reached an agreement, easing strike concerns and reversing the rate surge

: [Europe] French port strikes raise logistics disruption concerns
- Le Havre, France’s largest container port, faces strikes over pension reforms, with 48-hour walkouts on Jan 30-31 and more planned until Feb 28.
- While the impact remains unclear, ongoing strikes may divert vessels to Northern European ports, reducing cargo volumes to France.

: Jan 2025 Baltic Air Freight Index fell for five weeks due to Lunar New Year, then edged up in early Feb. Rates rising in Europe and the Americas, stable in Asia, leading to mixed global trends. Jan 2025 Asia rates fell post-peak season, China-Europe down 18% MoM.

(Source : TAC Index)

: HKG-US : 1Q 2025 $5.47 ~ $5.49, 2Q $5.50 ~ $5.95, 3Q $5.69~5.85, 4Q $6.04~7.43
HKG-EU : 1Q 2025 $4.26 ~ $4.65, 2Q $4.23 ~ $4.38, 3Q $4.34~4.43, 4Q $4.39~4.97

(Source : SamsungSDS Brightics)

: Global air cargo demand rose 12.2% in 2024, supply up 9.6%, with an average load factor of 45.9%.
Air cargo industry rebounds, regaining growth momentum amid challenges.

(Source : IATA)

: [Asia] SIN Airport Handles 1.99 Million Tons of Cargo in 2024
- In 2024, Changi Airport handled 1.99 million tons of air freight, up 14.6% YoY, driven by a surge in electronics exports and re-exports.
- Two new freighter airlines began operations. And, two new freighter routes connecting Singapore with Haikou and Nagoya were launched

: [Europe] Builds Central Airport in Poland for Innovative Connectivity to Europe
- Poland Aims to Become European Aviation Hub through Cooperation between CPK and PPL in Construction of Central Airport.
- By 2032, the Central Airport will become a major transportation hub with two runways and an annual capacity of 34 million passengers.

: [Americas] The impact of Trump's tariff policy
- On February 3, 2025, the U.S. imposed additional tariffs on China (10%), Canada (25%), and Mexico (25%), putting tension on the air cargo industry.
- Canada and Mexico received a one-month grace period for tariff application through negotiation. This measure was implemented without notice, and it will take time for companies to relocate their supply chains, which is expected to cause confusion

Market Intelligence [Feb. 2025] Logistics Market Intelligence Report