[Mar. 2025] Logistics Market Intelligence Report

: It continues to decline due to delayed overall demand recovery(SCFI fell 25% in Feb MoM).
The Australian route was the most affected by the traditional off-season and fell the most, plunging to $1,000 per TEU.

(Source : Shanghai Shipping Exchange )

: Comprehensive index continues to decline as demand recovery delays after Chinese New Year.
2025 Q2 average forecast is USWC $2,197 / USEC $3,138 / N.Europe $1,791 / S.America $3,233.

(Source : SamsungSDS Brightics)

: Supply growth is expected to slow down from 2025 due to concerns over oversupply. (2024 10.1% → 2025 6.0% → 2026 3.2%)
After the pandemic, the supply & demand gap gradually narrows, and it is expected to decrease to 0.7%p in 2026.

(Source : Clarksons Research)

: [Asia] U.S.'s trade sanctions against Chinese-built or -operated vessels
- China's M/S has more than 50% in shipbuilding; the impact is expected to be huge.
- It is expected to lead to an increase in ocean freight rates and a reduction in U.S. service.

: [Americas] US East Coast Port Union Ratifies New 6-Year Labor Contract
- U.S. East Coast dockworkers overwhelmingly approve tentative labor-management agreement with 99% approval.
- The contract will be officially signed on March 11 and will run until September 2030. According to the ILA, there will be no fully automated (no worker intervention) terminals or equipment.

: [Europe] US to soon announce 25% tariffs on EU
- Trump announced at his first Cabinet meeting in February that a 25% tariff would be imposed on EU products, including cars.
- German automakers will not be directly affected by the tariffs because they already produce in the U.S, but parts are sourced from Mexico and Canada, which could ultimately lead to higher prices.

: Baltic Air Freight Index fell for the 2nd consecutive week in early Mar 2025 due to U.S. tariffs on China.
Rates decline moderately compared to the sharp drop in ocean market, remaining 10.1% higher YoY.

(Source : TAC Index)

: HKG-US : 2Q 2025 $5.10 ~ $5.55, 3Q $5.72 ~ $5.83, 4Q $6.05 ~ 7.45, 1Q '26 $ 5.54 ~ 7.17
HKG-EU : 2Q 2025 $4.41 ~ $4.70, 3Q $4.05 ~ $4.13, 4Q $5.72 ~ 5.83, 1Q '26 $ 4.10 ~ 4.64

(Source : SamsungSDS Brightics)

: Jan 2025 global air cargo demand rose 3.6% YoY, with supply up 7.3%, showing moderate growth.
Air market remains positive, driven by e-commerce growth, rising trade volume, and lower fuel costs.

(Source : IATA)

: [Asia] BLR Airport announces plans to develop a new cargo terminal
- Menzies Aviation and Bangalore International Airport have announced plans to develop a 245,000-square-foot domestic cargo terminal. The new facility at Kempegowda International Airport will have an annual capacity of 360,000 tons and can handle 42 trucks simultaneously.
- The facility is being built to respond to the growth of the Indian air cargo market and is designed to accommodate future demand increases.

: [[Europe] Airbus delays the introduction of the A350 freighter
- Airbus delays the A350 freighter introduction from 2026 to the second half of 2027. The delay is due to supply chain issues with Spirit AeroSystems, which have put pressure on increasing A350 production
- There are 63 confirmed orders for the A350F, with airlines such as Turkish Airlines, Cathay Cargo, Air France-KLM, and Singapore Airlines placing orders. Airbus plans to expand A350 production to 12 units per month by 2028.

: [Americas] LAX drops to 5th busiest airport in the U.S.
- Long Beach and Ontario airports recorded double-digit growth, while LAX saw a 13% decline compared to 2019 due to slower passenger growth.
- Air cargo volume increased by 3% year-on-year, mostly handled at LAX and Ontario airports. LAX faces challenges in expanding airline hub operations due to high landing fees and inconveniences at the airport.

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