IMPORT: Asia to North America (TPEB)

Recent Developments:

• Ocean carriers did not issue general rate increases (GRIs) for the second half of March.
• The Journal of Commerce reports that international seafarers’ unions are urging ocean carriers, along with commercial vessels in general, to avoid transiting the Red Sea and Gulf of Aden following continuing missile attacks by rebel militants.

Rates: The downward trend on rates continues to hold.   
Space: Space is mostly open but has tightened in pockets.
Capacity: Capacity remains outbalancing demand.   
Equipment: Investments from independent equipment providers (IEPs) likely reflect increased expectations of an upswing in freight activity in the future.

TIPS:

• Hold your logistics partners accountable for frequent updates regarding current market conditions and routing impacts.
• Be flexible and adaptive to alternative service options, especially as it relates to potential savings on cost or transit.

IMPORT: Europe to North America (TAWB)

Rates: Rates have decreased slightly.
Space: Space is open.
Capacity: This trade’s capacity glut has shown signs of improvement. There is lesser imbalance between capacity and demand.

TIPS:

• Book at least three weeks prior to the ready date.
• Familiarize yourself with the European Union’s ETS program and how its carbon taxing is impacting operating costs for ocean carriers.

EXPORT: North America to Asia

Rates: Rates are sliding downward through mid-March.  
Capacity: Space remains open, particularly from West Coast ports.
Equipment: There are no significant deficits or bottlenecks, however coordinate closely with logistics partners as conditions may vary case by case.

TIPS:

• Insufficient communication with 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.