December 24, 2024
The head of the shipping line's North American business recently projected a 7% increase in global containerized trade in 2025. This forecast is based on market demand, the risk of strikes at U.S. East ports, and the tariff and Red Sea crisis. The North American market is strong, with imports growing 20% to 24% year-on-year in the first three quarters of 2024, and double-digit growth is expected in the fourth quarter. The International Longshoremen's Association could strike at U.S. East ports, leading to cargo transportation disruptions and a gradual trade shift to the West Coast. In addition, the market is preparing for Trump Tariffs 2.0, increasing uncertainty and driving trade volume growth. The Red Sea crisis is expected to continue through 2025, and global economic conditions, political situation, and trade policies will also impact global trade volume growth.
