Across International Shipping: News and Developments
[Labor] Uncertainty at Canada’s Largest Ports: A series of work stoppages continue to impact freight handling operations across Canada’s largest ports of Vancouver, Montreal, and Prince Rupert.
[Port Update] Florida Port Recaptures Major Carrier Services: Beginning November, South Florida’s Port Everglades was reintroduced in two weekly services of ocean carrier MSC: U.S.-South America and U.S.-Mediterranean.
IMPORT: Asia to North America (Transpacific Eastbound)
Rates: Rates have relaxed since October. Some major carriers plan to implement general rate increases (GRIs) mid-November.
Capacity: In the new year, ocean carriers could begin to implement blank (cancelled) sailing programs to trim excess capacity expected in the market.
Congestion: Mild congestion related to the longshore strike in early October has diminished. Cargo handling operations at USEC/GC ports are presumed normal.
TIPS:
- As the year reaches its end, Q4 can be the right time to get a head start on your 2025 transportation and logistics strategies. While business needs can vary, in most cases, a discussion and evaluation of service providers (carriers, forwarders, Customs brokers, etc.,) should be top of mind, especially as it relates to any potential shortcomings in existing providers throughout 2024.
IMPORT: Europe to North America (Transatlantic Westbound)
2025 Services: Major carriers continue to unveil upcoming changes to their transatlantic offerings, including additional options to the Caribbean and South America.
Rates: Aside from a traditional round of peak season surcharges (PSSs), rates have generally shown little change since August.
Capacity: Available capacity at Europe ports have shown some signs of strain.
EXPORT: North America to Asia
Rates: Outbound rates to Asia from the U.S. East Coast have decreased slightly. Meanwhile, U.S. West Coast to Asia services remain at steady rate levels.
Space: Rail service to the U.S. West Coast has been challenged as increased dwell on import containers delay the pickup of time-sensitive agriculture exports.
Equipment: Slowdowns in equipment placement are being reported at several inland gateways, including Minneapolis and Omaha.