Freight Market Update: July 12, 2023

Trends to Watch

  • [Regional – British Columbia] As the B.C. dock workers strike continues into its second week, please contact your account representative for the latest information on how this may impact your shipments.
  • [Ocean – TPEB] Take advantage of currently soft conditions on the floating market (low rates and open space). Consider leveraging premium services as they have returned to excellent transit time performance.
  • [Ocean – LATAM] Intra-Americas volume has softened across the board. Reasons for this include inventory overstock, slack seasonality, increase in capacity, and high inflation rates in key countries like Brazil, Chile, and Colombia.
  • [Ocean – FEWB] Demand and booking intake remain flat with high inflation, inventories, and energy costs; combined with geopolitical instability impacting demand on the European side. Further impacting trade on this lane is the summer holiday that traditionally starts in July and stretches for 4-6 weeks.
  • [Air – Europe] The market on the Transatlantic lane continues to soften in both directions. Demand is softening as a large amount of capacity is added for the summer schedule by U.S. and Europe airlines. Rates that bottomed out in mid-May are showing signs of stabilization.

North America Vessel Dwell Times


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