December 2024 Shipping Trends and Developments

U.S. President-elect Trump has expressed support for the International Longshoremen’s Association (ILA) in its opposition to automation at container terminals. With the current contract extension expiring on January 15, just days before his inauguration, labor negotiations with the United States Maritime Alliance (USMX) remain stalled. Automation remains a key point of contention, with no progress in discussions.

Trump has also reiterated plans to impose tariffs, including a 25% duty on Mexican and Canadian imports and an additional 10% on Chinese goods. His campaign promises included a 10-20% tax on all imports and a potential 60% tariff hike on Chinese products. Additionally, he has signaled an intention to reclaim operational control of the Panama Canal to reduce transit costs.

Meanwhile, global trade faces rising restrictions, as noted in the WTO Director-General’s latest report. Trade-restrictive measures have increased sharply from October 2023 to October 2024, despite some trade-facilitating policies. Geopolitical tensions continue, with the U.S. Central Command (CENTCOM) reporting Houthi attacks on vessels, necessitating naval protection for three U.S.-flagged merchant ships between November 30 and December 1.

Source: Bertling