IMPORT: Asia to North America (TPEB)

Recent Developments:

• The Panama Canal’s ongoing low water levels due to a drought are spurring on vessel congestion that may last for months.

Rates: After ascending since late June, rates have begun to cool from their rise. They still remain above pre-pandemic and average contract levels though. 
Space: Space is generally open, but certain services have seen tightening.
Capacity: Despite an uptick in volumes and rates, carriers remain conservative on 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 market 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 on 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

• Brazil has dethroned the U.S. as the world’s top corn exporter. Analysts are reporting the South American country is also closing in on the U.S. as the world’s biggest cotton exporter due to heat and drought in Texas, America’s top producing region. 
• 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 are low and level. 
Space: Space is open but tighter on the Gulf Coast. 
Capacity: Capacity is widely available for all services.
Equipment: Availability at virtually all inland points and seaports. However, chassis access remains a wildcard against fluid intermodal movement.
TIPS:

• Book at least two weeks prior to the time of departure.
• Shippers with high volume projects should take advantage of the carriers’ receptiveness to take on these opportunities. Space is wide open with a high acceptance rate.