Clothing imports are rebounding in 2024, but retailers will likely wait for clear signs of demand growth to bring in additional product after a double-digit percentage drop last year.
Group CFO Melanie Kreis would not comment on the near-term freight rate outlook or the likelihood of a modal shift from ocean to air or sea-air caused by supply chain disruptions, including the ongoing vessel diversions to avoid the Red Sea.
A rise in US imports is fueling optimism, especially among ocean carriers, but manufacturing’s malaise is tempering hopes for a broader transportation recovery.