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Short news quick reads 28/03/2025
West Coast Port Labor Negotiation Deadlock in the U.S.:
Labor negotiations between the International Longshore and Warehouse Union (ILWU) and employers at U.S. West Coast ports have stalled, raising concerns over potential supply chain disruptions. As a result, some traditional trade routes are shifting to East Coast or Mexican ports.
Global Air Freight Market Tightens:
The global air freight market is facing capacity constraints, driven by strong demand from the electronics and high-end manufacturing sectors. Air freight rates between China and the U.S. and China and Europe have increased by 8%-12% compared to last month. For certain routes, bookings need to be made two weeks in advance. Shippers are advised to plan shipments ahead of time.
New FEDEX Requirements for Shipments to the U.S.:
According to a notice from FedEx Hong Kong, effective March 25, all shipments to the U.S. must include a 10-digit U.S. HS Code. Additionally, certain products will require a Manufacturer Identification Code (MID Code) to be provided.
