IMPORT: Asia to North America (TPEB)

Recent Developments:

• Import activity continues to gradually increase month on month since February.
• The West Coast is recapturing lost market share of U.S. imports since its new longshore contract was ratified in August. The clearing of this labor hurdle has boosted otherwise anxious shippers’ confidence in returning to WC ports.

Rates: Rates have declined in most lanes. While volumes are steadily improving, this development signals that weak demand remains a contributor to softened rates.
Space: Space is generally open, but certain services have seen tightening.
Capacity: Blank sailings are expected to continue into Chinese New Year (February 2024) as carriers remain managing their overcapacity.
Equipment: Aside from a few pockets, equipment is widely available.  
TIPS:

• Hold your logistics partners accountable for frequent updates regarding blank sailings, rate increases, or any other forms of carrier 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: Capacity is plentiful.
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 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 their lossmaking.

EXPORT: North America to Asia

Recent Developments:

• Downbound barge rates have cautiously alleviated in the last week, suggesting potential relief for harvest season exporters. Conditions on the Mississippi River still remain far from ideal, however.

Rates: Rates are elevated.    
Capacity: Schedule reliability is currently erratic.
Equipment: A Golden Week-led equipment imbalance at WC ports has mainly subsided.
TIPS:

• Insufficient communication with erratic 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.