Freight Market Update: August 2, 2023

Trends to Watch

  • [Regional – British Columbia] A third tentative agreement has been reached between the International Longshore and Warehouse Union (ILWU) Canada and the BC Maritime Employers Association (BCMEA)—with a vote scheduled for Friday. As the situation continues to be fast-changing, please reach out to your account representative for the latest information on potential impacts to your shipments.
  • [Regional – Panama Canal] As of July 30, daily capacity at the Panama Canal has been lowered to roughly 32 vessels per day (10 vessels allowed in the Neopanamax lock and 22 in the Panamax lock) with potential for even steeper adjustments depending on future weather forecasts and other factors.
  • [Ocean – TPEB] Terminals at the Port of Los Angeles will be closed Thursday, August 3 while members of the International Longshore and Warehouse Union (ILWU) meet to discuss the status of contract negotiations.
  • [Regional – East Asia] As of writing, Typhoon Khanun is centered west of Okinawa. The storm is forecast to gradually move west-northwestward into the East China Sea through Thursday the 3rd. Port impacts are possible, please check with your account representative for updated info on potential impact on your shipments.

North America Vessel Dwell Times

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