Transportation & Logistics Industry Update 2Q24 Executive Summary
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August 13, 2024
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The transportation and logistics (“T&L”) industry faced several significant challenges in 2Q24 with lasting global implications, including the effects of ongoing geopolitical tensions and the threat of labor strikes. The T&L 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. However, an increase in capacity and the opening of new sea routes are expected to reduce freight prices in 2025 despite current T&L pricing pressures.
FTI Consulting’s 2Q24 Transportation & Logistics Industry Update examines the global freight market outlook, key sector trends, the effects of global port congestion and potential supply chain disruptions in the second half of 2024.
In addition to the executive summary, the full 62-page 2Q24 Transportation & Logistics report is available upon request. Please reach out to our experts in the key contacts section for access.
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Published
August 13, 2024
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