2024: A year of transformation in global supply chains

As we reach the end of 2024, the U-Freight Group reflects on a year marked by significant events that have reshaped the global supply chain landscape. From geopolitical tensions to evolving logistics trends, this year has underscored the critical importance of resilience, adaptability, and innovation in the industry.

Below are some of the most significant supply chain developments that defined 2024:

– Houthi Attacks in the Red Sea: The ongoing crisis in the Red Sea continued to disrupt maritime trade, forcing vessels to reroute around the southern tip of Africa. This diversion created new delays and challenges for global shipping.

– Labour Unrest: Strikes surged by 42% year-over-year, including a prolonged six-week standstill at the Ports of Los Angeles and Long Beach, severely affecting operations on the US West Coast. A three-day strike by dockworkers on the US East Coast in October highlighted growing tensions over automation, with further industrial action expected in early 2025.

– eCommerce Growth: With online shopping continuing to soar, air freight demand, particularly on Asia-North America lanes, surged as businesses scrambled to meet rising consumer demand.

– Global Reefer Shortages:The shortage of refrigerated containers intensified, impacting the transport of perishable goods and adding to supply chain bottlenecks.

– Political Shifts: The re-election of Donald Trump brought renewed concerns about potential changes to trade policies, including the possibility of protectionist measures and tariffs on imports from China.

– Shipping Alliances: Major shifts in global shipping alliances reshaped container shipping routes and introduced new challenges to the flow of goods.

U-Freight Group milestones in 2024

Whilst 2024 brought many challenges to global supply chain, 2024 was also a year of growth and success for the U-Freight Group:

– We signed a strategic cooperation agreement with the Shanghai Hongyu Supply Chain Management Co (HYSC) designed to capitalise on the latter’s extensive expertise in China’s medical and healthcare sector, and UFL’s strength in international freight forwarding and logistics.

– We established a dedicated China Business Development Team to enhance the efficiency and convenience of communication with our various stations throughout China on all sales-related matters.

– Delegates from the U-Freight’s Group’s network of owned offices and exclusive agents gathered in Lisbon at a regional sales conference, which focused on various developments including the company’s emergence and ongoing development as a leading player in global e-commerce logistics.

– e+Solutions (ePlus), through which we offer some eCommerce logistics solutions, collaborated with Airport Authority Hong Kong (AAHK) in the production of a new corporate video, titled ‘Hong Kong International Airport – The e-commerce fulfilment hub in Asia’, which aims to highlight Hong Kong’s unique advantages as a global logistics centre and attract more companies to utilise its infrastructure for eCommerce operations.

– With our strong historic air cargo collaboration with Japan Airlines, we once again joined its Apple Tree Ownership Program, reaffirming our commitment to supporting sustainable agricultural practices and fostering international relationships.

– We received another ‘Top Customer Award’ from Cathay Cargo in recognition of the air cargo revenue that it produced for the airline in 2023 and was presented with an Outstanding Route Performance award for our tonnage contribution to Cathay Cargo for China and Asian destinations.

– We used the Asian Logistics, Maritime and Aviation Conference to showcase the services offered by our e+Solutions (ePlus) brand.

As we look forward to 2025, the U-Freight Group is well-positioned to face new challenges and continues supporting our clients with expert insights, seamless operations, and innovative logistics solutions.

Thank you for your continued trust and partnership throughout 2024.

Wishing you a very happy, healthy and prosperous New Year.