IMPORT: Asia to North America (TPEB)

Recent Developments:

• Whether labor uncertainty ends at Western Canada ports falls on ILWU Canada rank-and-file members. Dockworkers at Vancouver are expected to vote Thursday and Friday.

Rates: A new wave of general rate increases (GRIs) has arrived in August. In addition to these, July’s GRIs have kept rates propped up. If there’s any movement to rates in the coming weeks, it’ll be in an upward fashion.  
Space: Space is open, but could see some tightening amid aggressive capacity management and steady rises in demand.
Capacity: Capacity is still open, but carriers have been focused on tightening service offerings due to higher demand in recent weeks.
Equipment: Available at virtually all inland and coastal points. 
TIPS:

• Keep a pulse on inventory and establish concrete timelines with ordering. Will you be importing before the holidays and peak season? Are you holding off until 2024?
• Don’t get complacent with the favorable market conditions the past several months. Tightening capacity and higher rates could pose booking challenges through peak season. Plan ahead!
• Hold your logistics partners accountable for frequent updates regarding blank sailings, rate increases, or any other forms of market maintenance.

IMPORT: Europe to North America (TAWB)

Recent Developments:

• August is a vacation month for Italy. Typically, citizens will take extended amounts of time off leading to possible lapses in productivity.
• Many importers work around this holiday and place bookings before or after August, tightening space and raising demand as a result.

Rates: Rates continue to steadily fall and are reminiscent of pre-pandemic times.
Space: Space is open, except for a few pockets.
Capacity: Capacity is open.
Equipment: Availability on both origin and destination sides, unless advised otherwise.
TIPS:

• Book at least three weeks prior to the ready date.
• Premium add-ons (i.e., no-roll options and improved cargo reliability) remain assurances shippers should consider with transatlantic service.

EXPORT: North America to Asia

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.