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: General rate increases (GRIs), enacted by ocean carriers at the start of May, are sticking, keeping rates elevated and angled upward.
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, capacity is in a healthier state and being utilized productively across the market.
Equipment: A terminal at the Port of Los Angeles is draying rail containers to near-dock storages yards as the facility works against a backlog. Since the start of 2024, rail container dwell times (measured in days) have steadily increased at Los Angeles and Long Beach terminals.

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)

Recent Developments: For the latest scoop on the transatlantic market, refer to our recent blog!

Rates: Rates continue to gradually increase as the trade recaptures stronger demand.
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 falling throughout April, rates hit a floor and are since climbing upward in early May.
Capacity: Space remains open, particularly from West Coast ports.

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.