Competitive Edge
May 1st, 2024
Stay Current with InterlogUSA
Latest Industry Happenings and Market Updates:
IMPORT: Asia to North America (TPEB)
Recent Developments:
- U.S. import volumes from Asia are rising, leading to upgrades in retailers’ first-half 2024 import forecasts.
Rates: Ocean carriers have implemented general rate increases (GRIs) today (May 1) for the first half of May. The increase varies between $1,500 to $2,000 per forty-foot container unit and applies on all Southeast and Far East Asia origins to U.S. coasts. Â Â Â Â Â
Space: Space has tightened, partially to rising demand, but also carrier-enforced blank sailings. Â
Capacity: Generally speaking, capacity is in a healthy state, utilized productively across the market. Â
Equipment: No significant bottlenecks or equipment deficits to report across U.S. gateways.
TIPS:
- Hold your logistics partners accountable for frequent updates regarding current market conditions and routing impacts.
- As the market shows indicators of heating up, familiar yourself with the potential hurdles that can occur amid tightened capacity and delays in handling.
IMPORT: Europe to North America (TAWB)
Recent Developments: For the latest scoop on the transatlantic market, refer to last week’s blog!
Rates: Rates are steady, gradually increasing as demand strengthens.
Space: Space is open.
Capacity: Reassuring demand from U.S. importers has prompted better utilization of available capacity.
TIPS:
- Book at least three weeks prior to the ready date.
- Keep an eye on East Coast labor uncertainty as a coastwide strike could occur in October if no contract is settled between dockworkers and maritime employers.
EXPORT: North America to Asia
Rates: After recovering in mid-March, rates levelled off through the first half of April. Â
Capacity: Space remains open, particularly from West Coast ports.
Equipment: Export containers are being diverted to other East Coast ports of loading following the Port of Baltimore’s indefinite suspension to ship traffic. Â
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.
Freight News
Nearly $150 Million from US DOT Grants Will Go Towards Decreasing Truck Pollution
Last week, the White House announced nearly $150 million in grants going towards the reduction of truck pollution at U.S. ports.Â
Alabama, California, Florida, Georgia, Hawaii, Indiana, Louisiana, Maryland, New Jersey, Puerto Rico, Texas and Washington will all receive some of the funds. Take a look below at some of the projects this funding is going towards.
What will these projects go towards?
California –
The Long Beach Container Terminal will be receiving the largest amount of funds ($34.8 million). Their project will include replacing diesel and gas powered trucks and six shuttle buses with zero-emission technologies, as well as installing 155 electric charging units, per a White House press release.
Texas –
The Port of Houston will receive $25.1 million which will be used to add 30 zero-emission, Class 8, short-haul trucks at their port for trucking companies and owner-operators within the Houston-Galveston-Brazoria region. The project includes 15 portable electric chargers for battery EV trucks and one portable hydrogen fueling station, per a White House press release.
Washington –
The Northwest Seaport Alliance (NWSA) will receive $16 million for financial incentives to independent owner-operators and small trucking companies to buy zero-emission, short-haul trucks, per a White House press release.
Highlights From the IMO's Latest Legal Committee Session
In their 111th session, the International Maritime Organization released new details on seafarer rights, ship registration diligence, insurance guidelines, and improved piracy measures.
Here’s a few features from the session:
— Finalized guidelines to make sure seafarers – who may be suspected of committing crimes while working on the ship – receive fair treatment during the investigations and detention. Top of Form
— Reactivating the Correspondence Group On Due Diligence to continue their commitment to prevent ship registration fraud.
— Discussed main developments regarding legal issues related to piracy and armed robbery of ships since the previous session (LEG 110).
Did You Know? With Johnny Cargo!
Johnny Cargo sure knows a lot! Other than fun and random facts however, Johnny also can provide insight into InterlogUSA’s many service and pricing options. He is always available for a quick conversation. Click here to chat with Johnny Cargo.
Interlog 
Insights
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