IMPORT: Asia to North America (TPEB)
Rates: On Jun. 15, another round of general rate increases (GRIs) were implemented, further increasing already high rates.
Space: Space has tightened due to both rising demand and, while not as frequent as the past several months, carrier-enforced blank sailings.
Capacity: Generally speaking, vessel capacity has been better served across the market as demand prompts more utilization.
Equipment: Rising demand and longer vessel transits for outbound shipments from China have led to a crunch in equipment capacity at Chinese ports, notably Ningbo, Dalian, and Guangzhou.
In addition to this market, the equipment deficit has especially hindered Asia-Europe trade.
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 cases of tightened capacity and handling delays.
IMPORT: Europe to North America (TAWB)
Rates: Rates continue to ebb and flow.
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 as early as October if no contract is settled between dockworkers and maritime employers.
EXPORT: North America to Asia
Rates: Rates are appearing to level off after an accelerated rise throughout May.
Capacity: Generally speaking, capacity is available, but U.S. export movement can be influenced, even hindered, when more attention is placed on the import market.
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.