Global Container Rates
The International Longshoremen’s Association, which is a 47,000 member union representing cargo handlers at the U.S. East Coast and Gulf Coast Ports, has threated to begin striking on January 15, 2025 as it seeks protection from automation. It reached a resolution on wages in October 2024, but the technology/automation issue remained unresolved. Our latest update: Threat of a Major U.S. Port Strike Returns.
- The composite rate per 40-foot container was $3,905 on 1/02/25, which is up $102 from 12/19/24 (last available data). Global container rates were mostly mixed from 12/19/24. The largest increase was from Shanghai to New York, which increased $1,233 to $6,385. The second largest increase was from Shanghai to Los Angeles, which increased $330 to $4,829.
Suez Canal Crossings
- The chart below outlines the 7-day rolling total of container ships, tankers, and bulk carriers traveling South to North through the Suez Canal.
- The total number of crossings on 1/06/25 was 81 (compared to 139 on 1/05/24).
Global Supply Chain Pressure Index
- The Federal Reserve Bank of New York’s Global Supply Chain Pressure Index (GSCPI) increased from -0.32 in November 2024 to -0.22 in December 2024
Most-Watched Supply Chain Metrics
- The aggregate index of most-watched supply chain metrics (the black line in the chart below) increased last week to –0.20 from -0.31, with zero meaning the supply chain is acting normally.
U.S. Trucking Rates
- Trucking rates increased week-over-week (latest available data for the week ended 12/27/24), with Internet Truckstop’s average equipment rate at $2.35 per mile.
- Trucking rates on a geographical basis mostly increased week-over-week. The biggest increase was in the Mountain Central, which increased $0.17 to $2.27 per mile. The next biggest increase was in the South Central and which increased $0.13 to $2.33, respectively.
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