Welcome to the first Goudsmit UK market update of 2025. Our monthly market update provides an overview of key developments across shipping, air freight and commodities, helping you stay informed and prepared for whatever the market brings.
The global freight industry faces pivotal changes in 2025 – make sure to subscribe to our monthly newsletter to stay ahead and receive the latest market into your inbox each month.
Here’s what you need to know:
2025 Industry Outlook
As we enter the new year, the freight industry faces significant changes and challenges. One key factor is the potential for new or increased US import tariffs under President-elect Trump, who is set to be inaugurated in the coming days. Meanwhile, Red Sea diversions are likely to continue as a result of ongoing Houthi attacks, prolonging shipment delays in that region.
In January, there is a possibility of an ILA port worker strike, which could disrupt both transpacific and transatlantic shipping routes. Major carrier alliances will also see major reshuffles—most notably the end of the 2M Alliance and the emergence of the Gemini Cooperation. While these changes may cause temporary disruptions, they could eventually drive down shipping rates in the long run.
Looking ahead, the Lunar New Year holiday in China is fast approaching. Demand for services will surge in the weeks leading up to the closures, followed by a drop in available capacity during the holiday period. Limited space will drive up costs, so advance planning is crucial to ensure smooth operations.
Exchange Rate
Worst GBP to USD exchange rate in December 2024: 1.2497
Best GBP to USD exchange rate in December 2024: 1.2778
Average GBP to USD exchange rate in December 2024: 1.2635
Port Operations
Ningbo port is currently operating normally, with generally good equipment availability and a vessel waiting time of approximately 2-4 days. There are no weather disruptions or capacity issues.
Airport Operations
With the conclusion of the Christmas holiday season, the air freight market has experienced a slowdown, as the peak holiday rush has come to an end. While there is currently available capacity in the market, air freight volumes are expected to increase again next week in anticipation of the upcoming Chinese New Year (CNY) holiday, as shippers begin to prepare for the seasonal demand surge.
Operations at Shanghai Airport are running smoothly, with only a few cancellations reported by China Southern Airlines. Hauliers are working as usual, and weather conditions are normal. Space is currently open, and rates are softening, however this will change as the Chinese New Year holidays approach.
Commodity Market
In December 2024, commodity prices showed a general downward trend, reflecting seasonal reductions in industrial and manufacturing activity. Aluminium (2.57$/kgs), Cobalt (21.84$/kgs), Copper (8.86$/kgs), Nickel (15.44$/kgs), and Zinc (3.00$/kgs) all experienced slight declines compared to November.
However, Neodymium and Samarium remained stable at 70.00$/kgs and 10.90$/kgs. The overall steadiness highlights a period of relative equilibrium in the market, with no dramatic shifts impacting key industrial materials.
Download the full commodity rates here.
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