Radiant's Freight Market Update: January 30, 2025
This week: Steelmakers in Canada and Mexico have halted new orders from the U.S.; Canadian PM candidate is calling for an international summit in response to the proposed U.S. tariffs; The Port of Los Angeles saw its second-busiest year in its 117-year history.
Current Critical Industry Trends
Steelmakers in Canada and Mexico have halted new orders from the U.S. due to concerns over potential new and costly tariffs. Imported steel accounts for about 27% of total steel demand in the U.S., with Canada and Mexico being the top and third-largest suppliers, respectively.
Canadian PM candidate is calling for an international summit in response to the proposed U.S. tariffs. The coalition would collaborate to address the challenges and develop a strong retaliatory plan.
Ocean
Taiwan has blacklisted 52 Chinese-owned ships, which operate under flags of convenience. Taipei plans to target vessels flagged by countries with lenient safety and regulatory standards.
Ports
The Port of Los Angeles saw its second-busiest year in its 117-year history, handling over 10 million container units—almost a 20% increase from the previous year. Additionally, the port has reduced its emissions to the lowest level seen in nearly 20 years. This milestone marks a significant achievement in both operational growth and environmental impact.
International
Plan Mexico was launched with a 30 billion peso incentive package. The majority of the funds will be allocated to support new fixed assets in the country, while the remainder will be directed toward training and innovation incentives.
Trucking
The Canadian Trucking Alliance is encouraged to see government officials expediting the review of internal trade issues. The discussion aims to identify and eliminate internal trade barriers, helping to improve competitiveness and productivity in the Canadian supply chain.
Rail
Funding resumes for key transportation and supply chain projects. A short-lived funding freeze put rail, highway, and port upgrades at risk, but the pause has now been lifted. Industry leaders emphasize the need for predictability in grant programs to ensure long-term infrastructure progress.
Strike averted as CN and IBEW reach tentative deal. After working without a contract since December 2024, CN and the IBEW have come to terms on a four-year agreement. The agreement ensures continuity for operations that support a significant portion of CN’s U.S. trade revenue.
Air
Hong Kong Airfreight Market Booms as Cathay Cargo Expands Capacity. Capacity out of Hong Kong increased by 12%, keeping pace with a 17% market-wide rise. Despite global trade uncertainties, demand for special cargo solutions and high-value shipments is growing, while digital bookings now account for 70% of Cathay’s transactions.
Technology
Charging on the move Quebec’s bold step toward EV fleet innovation. A Swedish company is testing a breakthrough in fleet electrification — offering reduced operating costs, smaller batteries, and enhanced charging efficiency.
Other
Port of Los Angeles unveils stunning drone tour of cargo operations. The port has released drone footage, offering a rare first-person view of its bustling cargo terminals and waterfront attractions. The immersive aerial tour highlights the scale of operations and ongoing investments driving efficiency at one of the busiest ports in North America.
Aircraft weighing enters a new era with wireless telemetry. Gone are the days of complex wired weighing systems. Wireless telemetry is delivering increased flexibility, reduced calibration time, and improved real-time data monitoring, ensuring aircraft are optimally balanced for performance and safety.
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About Radiant Logistics, Inc.
Radiant Logistics, Inc. (www.radiantdelivers.com) is a comprehensive North American provider of third-party logistics and multimodal transportation services. Through its comprehensive service offering, Radiant provides domestic and international freight forwarding services, truck and rail brokerage services and other value-added supply chain management services, including customs brokerage, order fulfillment, inventory management and warehousing to a diversified account base including manufacturers, distributors and retailers using a network of independent carriers and international agents positioned strategically around the world.