Transportation & Logistics Industry Update 2Q24

The transportation and logistics industry faced several challenges in 2Q24 with lasting global implications. The market saw a surge in ocean freight prices and growing demand for air freight due to longer transit times caused by Red Sea shipping disruptions and congestion in Asian ports. Potential labor strikes in Europe and the United States pose an additional threat to an already strained logistics sector. Despite current pricing pressures, an increase in capacity and the opening of new sea routes are expected to reduce freight prices in 2025.

For more 2Q24 insights, access the executive summary by filling out the link below.

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