Trends to Watch
- [Ocean – TPEB] Carriers continue to price in order to win volume in a market seeing soft demand and no material peak season—rates are expected to continue to fall. Reductions have slowed to the U.S. West Coast (USWC) while further reductions continue to be seen to the U.S. East Coast (USEC).
- [Ocean – India] Floating Rates have stabilized through June. Slight increases, through carrier General Rate Increases (GRI), are expected for July. Fixed Rates signed at higher levels than FAK, but incoming GRIs may equalize the two.
- [Ocean – LATAM] Capacity that opened up—due to softer demand and ocean carriers deploying new services or adding additional capacity to existing service rotations—put pressure on rates as supply exceeded demand. Expect this situation to remain beyond Q2.
- [Trucking – U.S. Domestic] Contract compliance is at an all-time high, as evidenced by the historically low tender rejection rate of below 3%—an indicator of carriers’ willingness to accept most contract freight.
- [Trucking – U.S. Import/Export] U.S. wet ports remain largely fluid, with truck turn times under one hour at most ports. Rail ports are also largely fluid though some chassis shortages are being seen due to multiple train arrivals and above average street dwells.
North America Vessel Dwell Times
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