What’s going on in freight

The US midterms dominated the day: oil fell sharply on hopes of a quieter Iran policy, but Gulf attacks went on and no tariff rate moved. In the markets, November rate increases failed on the main ocean lanes while transpacific air and US truck brokerage prices kept climbing.

War, chokepoints and disruption

• The 5pm Pacific strike deadline for about 250 ILWU Local 26 watchmen at Los Angeles and Long Beach passed with no walkout, and the contract now runs to midnight Pacific on Friday 6 November. Their terminals handle about 85% of Long Beach cargo and 33% of LA’s. (FreightWaves, Transport Topics) Our story →
• Brent fell 8.9% to $94.29 on 4 November after Republicans lost Congress, but a tanker was hit off Oman late on 3 November and another 50 nautical miles north of Qatar late on 4 November. Gulf surcharges follow attacks, not crude. (MarineLink (Reuters), Dawn (Reuters)) Our story →

Rates and markets

• Maersk filed a $1,500 per 40ft peak season surcharge from Far East Asia to the Mediterranean from 23 November, after the 1 November rate increases failed. Freightos has Asia–Mediterranean at about $4,375 per 40ft, up 23% in a month. (Maersk, Zencargo) Our story →
• Freightos put Far East–North America air freight at $7.76/kg in its 3 November update, up 9% in a week and about 40% on a year earlier. That is close to last December’s peak of about $8.00/kg. (Freightos, Air Cargo News) Our story →
• ArcBest said its brokerage yield (revenue per shipment) rose 18% year on year in October. Uber Freight posted record gross bookings of $1.768bn and still lost $33m. (FreightWaves, FreightWaves) Our story →

Tariffs, customs and policy

• Democrats won both chambers of Congress on 3 November, but no duty rate, list or date changed, and the White House says Trump will veto limits on his tariff powers. The new Congress does not sit until January. (Al Jazeera, Euronews) Our story →
• The US Treasury sanctioned 14 people and companies on 4 November, most in an India-based network it says sold fake flags and certificates to tankers carrying Iranian oil. OFAC also issued an alert on dealing with falsely flagged ships. (US Treasury, gCaptain) Our story →

Forwarders, carriers and deals

• ONE raised its full-year net profit forecast from $900m to $2bn after a $1.318bn July–September quarter. That leaves only about $650m for October–March, so the carrier is budgeting for weaker rates. (FreightWaves, Breakbulk News) Our story →
• Matson’s expedited China service carried 40,500 FEU in Q3, up 16.0%. The carrier expects Q4 ocean operating income about 50% above last year’s $136.0m. (PR Newswire (Matson)) Our story →

Software, AI and automation

• CO3, a Berlin truck-data company, has bought Oslo freight-audit firm Kinver to match live vehicle data against freight contracts and invoices. The price was not disclosed. (CO3, Kinver) Our story →
• Berlin startup Conlio raised EUR 6.4m to automate checks of CMRs, proofs of delivery and carrier invoices. The venture arms of forwarders WALTER GROUP and FIEGE invested. (Tech Funding News, Beinsure) Our story →
• Trimble cut its full-year recurring revenue growth forecast to about 10%, from 12–14%. Its CEO said “the European freight market remains somewhat mixed,” and the strategic review of its freight platform Transporeon is still open. (FreightWaves) Our story →

Coming up

• Friday 6 November, midnight Pacific: the LA/Long Beach watchmen contract extension expires, with talks and federal mediators earlier on Friday Our story →
• 23 November: Maersk’s Far East Asia–Mediterranean peak season surcharge takes effect Our story →
• 3 January 2027: the new Democratic Senate majority takes over Our story →
• Early February 2027: ONE reports October–December results Our story →