Restaurant Supply Product Pathway
Q4 2024 Market Update
SUMMARY: Threats of strikes at East Coast ports and air freight services roiling the supply chain
MANUFACTURING
OCEAN LOGISTICS
GROUND LOGISTICS
RAW MATERIAL AVAILABILITY
TRUCK DRIVER SHORTAGE
PORT DISRUPTION
DIESEL FUEL COST
ARMED CONFLICT
COST
.
WAREHOUSE INVENTORY
ADVERSE WEATHER
TARIFFS
The International Longshoreman Association contract expired on September 30. Negotiations on a new deal did not produce a new agreement and strikes at East Coast and Gulf Coast ports began on October 1. Dockworkers agreed to return to work October 3 on a deal extending the expired contract through January 15 to afford negotiation of other unresolved issues.
Attacks in the Red Sea continue to drive lengthy voyage diversions, resulting in higher ocean freight rates.
New US glove tariffs announced on Chinese nitrile gloves, potential wider impact on Asian glove exports. Tariffs rates on medical nitrile gloves out of China will increase to 50% in 2025 and 100% in 2026, up from the previously proposed 25% in 2026.
Typhoon Yagi, the strongest storm to hit China’s southern coast in 10 years, impacted operations in September.
The chronic truck driver shortage across North America is projected to reach 88,000 fillable positions by year-end.
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ACR©2024
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