DHL Ocean Freight Market Update – December 2024

An early Lunar New Year and potential new U.S. tariffs are driving healthy demand for China's exports.

Driven by early Lunar New Year and potential implementation of new U.S. tariffs, demand remains healthy, and China's exports exceed forecasts. Underlying inflation trends remain favorable, with sub-zero core goods inflation and decreasing services inflation in the G5 economies.
Disruptions on services expected as Alliances are shifting to their new set up mainly on East-West trades.
Rates remain much higher than same time last year. Several carriers had announced new rates implemented from Dec 1 in anticipation of the pre-Chinese New Year rush.
From January, the share that carriers need to surrender for their emissions under EU Emission Trading System is increasing to 70 percent, with additional ETS surcharges expected in 2025.
ILA USMX negotiations reach stalemate. Deadline is 15 January.

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