Competitive Edge

July, 26th 2023

IMPORT: Asia to North America (TPEB)

Recent Developments:

Rates: General rate increases have hit the transpacific in the second half of July with more expected to arrive in August. Unlike earlier in the year, these increases have stuck around and driven up rates.
Space: Space is open, but could see some tightening amid capacity management and rising 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.

  • 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)

Rates: Rates continue to steadily fall.
Space: Space is open, except for a few pockets.
Capacity: Capacity is open.
Equipment: Availability on both origin and destination sides, unless advised otherwise.

  • Book at least three weeks prior to 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 U.S. 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.

  • 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.

Freight News

Trans-Pacific Peak Season Nears as Rolled Shipments, Blank Sailings Increase

U.S. imports from Asia have continued to increase each month. For June imports totaled 1.42 million TEUs, which is up from 1.37 million TEUs in May.

Carriers are continuing blank individual sailings in the trans-Pacific, most coming from origin ports in Asia.

Per the JOC so far 15.5 percent have been blanked from Asia to North America for July, after blanking 10.6 percent in June.

Some are also reporting that they are seeing some of their cargo being rolled – meaning the container did not make it onto the vessel.

Why are they getting rolled? According to the JOC, it’s due to the specific weekly service being canceled, or because that container was bumped from the vessel by higher paying cargo.


Port of Rotterdam Sees a Drop in First Half Volumes

As we mentioned in last week’s newsletter, we discussed how the Port of Antwerp-Bruges, one of Europe’s main ocean gateways, saw a drop in first-half throughput.

The Port of Rotterdam is in the same boat, as data shows Rotterdam saw an 8.2 percent decline in first half volumes.

Imports had the steepest decline, with 3.4 million TEUs through the port, which was almost 10 percent year-over-year, per the JOC.

The port also has plans to invest further into new container terminal space, digitalization and infrastructure as it transitions into more green energy.

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Topics: July/August GRIs, peak season, update on blank sailings. What’s the latest on the Canadian Labor Strike? Plus, current events!

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Did You Know: Port of Corpus Christi Sets New Record

In quarter 2, the port moved nearly 50 million tons of goods, which set a record for the fifth consecutive quarter.

This was a 7.1 percent increase from the same time last year, and just slightly higher than the previous record back in quarter 1 of this year.

The port also saw an increase in millions of tons moved… for the first six months of this year the port moved 99.3 million tons, which was a 10.3 percent increase from the same period of last year.

Source: JOC

Blogs of the Week

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A Podcast by InterlogUSA: FreightFM Episode 10

Check out our latest episode on all things U.S. and Canadian West Coast! — UPDATE: As of 7/26/23: members of the union are expected to vote on the tentative agreement later this week.

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FreightFM features short-form video interviews with InterlogUSA’s industry experts offering insights into breaking news, market trends, our company’s history, and more!

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Interlog Insights

In last week’s insights, we discuss the labor uncertainty in western Canada, GRI predictions, and the latest industry news headlines.

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Every other week we post a poll on our LinkedIn page where you can vote on which port you would like to see featured on our deep-dive on Friday! 

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Past “Port of the Week” newsletters have included the Port of Nagoya (Japan), Port of Oakland (California), Port of Vancouver (Canada), and more.

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