IMPORT: Asia to North America (TPEB)

Recent Developments:

• Golden Week begins October 1. A pre-holiday demand surge appears minimal, however schedule reliability remains a concern given occurrences of blank sailings.
• Both East and West coast ports recorded 20 percent (plus) year-over-year declines in transpacific imports for the first eight months of 2023.

Rates: Rates are steady, but above pre-pandemic levels and average contracts.
Space: Space is generally open, but certain services have seen tightening.
Capacity: Carriers remain reducing capacity with blank sailings.
Equipment: A new chassis pool at Southeast ports (excluding Charleston) will go live October 1.
TIPS:

• Hold your logistics partners accountable for frequent updates regarding blank sailings, rate increases, or any other forms of carrier maintenance.
• Establish a firm timeline for future import activity.

IMPORT: Europe to North America (TAWB)

Rates: Rates mirror pre-pandemic levels.
Space: Space is open, except for a few pockets.
Capacity: Major carriers are reallocating TAWB vessel capacity to the Asia-Europe trade.
Equipment: Availability on both origin and destination sides, unless advised otherwise.
TIPS:

• Book at least three weeks prior to the ready date.
• It’s unclear yet how carriers will react to this trade’s softened state, but be on the lookout for certain tactics, like blank sailings or rate increases, from them as a means to reduce lossmaking.

EXPORT: North America to Asia

Recent Developments:

• Increased competition from other exporting countries, like Brazil, have made it more difficult for American farmers to reach overseas markets.
• The U.S. harvest season could see adverse impacts as low water levels on the Mississippi River hinder barge movement, a popular mode for agriculture exports.

Rates: Rates have increased at a sharp clip.   
Capacity: Schedule reliability is currently erratic.
Equipment: Availability at virtually all inland points and seaports. However, chassis access remains a wildcard against fluid intermodal movement.
TIPS:

• Insufficient communication with erratic sailing schedules can lead to higher detention and demurrage fees as well as higher trucking and storage costs. Ensure your logistics partners are not keeping you and your cargo in the dark.