分类： <span>Market Update（EN）</span>

Trends To Watch

• [Ocean – TAWB] More and more carriers are reacting to the current market situation, calling rate levels ‘unsustainable;’ The expectation is for more blank sailings to hit the market in case demand doesn’t pick up soon. As per the latest Sea Intelligence article, the U.S. inventories are declining but mainly for wholesalers whilst retailers’ inventories are still high. Hopefully, this is a sign that the market will soon turn back with positive demand. In other news, USWC services are not being impacted by the current Panama Canal water situation but we will continue to monitor the status over the next few weeks weeks.
• [Ocean – FEWB] EUR trade: November GRI was initially announced at $1650-1800 but levels are expected to land closer to $1200. The overall EU trade market remains flat but capacity will be slightly impacted due to the vessel deployment change/suspension in SEA; expect rates to keep dropping. Additionally, three more blank sailings were announced by OA in the past week while THEA announced FE5 suspension from week 46 until further notice (but added Cai Mep calling on FE3 service); CMA announced taking out Cai Mep on FAL3 from week 48. Plus, the 2M winter program market capacity is expected to still be down by more than 20% through November; Expect more void plans from OA & 2M if vessel utilization remains flat; MED trade: Following NEUR, MED GRI started at the $2000 level and will most likely land at $1450-1500 for the first half of November; No further void plans were announced for MED trades but current utilization is good and MED rates are expected to drop back to the $1200-1300 level.
• [Air – Global] Global air cargo tonnages and rates have stabilized following China’s Golden Week, with week 42 indicating a +1% increase in both metrics, recovering from a -6% drop during the holiday. Despite this, no strong indications of a Q4 peak season are apparent. Regionally, there were tonnage decreases from Europe to various areas, contrasted by notable increases to and from the Asia Pacific. On a year-on-year basis, the global chargeable weight for weeks 41 and 42 was down by -1%, but overall capacity rose by +12% due to the resurgence of passenger air services. Presently, worldwide average rates are -28% from last year, though they’re up +33% from October 2019, sitting at an average of 2.38 US dollars per kilo.
• [Trucking – LATAM] Hurricane season is in full swing; Tropical Storm Pilar has led to heavy rainfall and flooding over portions of Central America, including El Salvador and Honduras. This has impacted trucking operations across the country but no port closures have been announced as of yet.
• [ISC – North America] Rate levels will remain consistent throughout November as demand and capacity begin to balance due to blank sailings. USEC capacity is constrained due to two blank sailings on the INDAMEX. USWC capacity is constrained due to higher-than-expected demand for TPEB services following Golden Week. General Rate Increase is expected to be implemented in December. Moreover, the ongoing government worker strike in Bangladesh due to road, rail, and sea blockage is expected to last until tomorrow, November 2.

Please reach out to your account representative for details on any impacts to your shipments.

North America Vessel Dwell Times

Trends To Watch

• [Ocean – TPEB] Beginning in November, the Panama Canal Authority will further restrict the number of daily transits to 31 from the normal 36. This will bring with it the likelihood that container services will begin to see delays which they’ve been able to previously avoid. Expected delays would be in the 2-3 day range. Even with the delays, this timeline is still faster than shipping via Suez services for most Asia ports of loading. Heavy and time-critical cargo should consider routing via the U.S. or Canadian West Coast or utilizing rail or trucking services.
• [Ocean – LATAM] Brazil: The water levels in the Amazon River at its critical passage points have reached an unprecedented level, making it impossible for container vessels to access the Manaus port. Due to the unpredictable river conditions, we cannot provide a concrete forecast at this moment when Manaus will be accessible again. Ocean carriers are closely monitoring the river conditions and will communicate promptly when safe operations can resume. Moreover, the Port of Navegantes has been closed since October 4th due to adverse weather conditions while ZIM announced a GRI for all cargo from East Coast South America (including Brazil) effective November 1 at a quantum of $450/ctr. As of Oct 21, some carriers have reopened with some draft restrictions. Despite these challenges, Brazil continues in its peak season. Guatemala: The ports of Puerto Barrios and Santo Tomas de Castilla have reopened after weeks of protests caused roadblocks. Conversely, the Port of Puerto Quetzal remains closed.

The Week In News

Port of Long Beach Marks Its Busiest September on Record
The Port of Long Beach moved 829.4K TEUs in September, an increase of 11.8% from the same month last year, which marks the Port’s first monthly year-over-year cargo increase in 14 months. This suggests rising consumer confidence amid the holiday season and bodes well for cargo volume to rebound through the end of this year as the Port of Los Angeles also saw an increase in volume in September, with 748.4K TEUs moved––marking a 5.4% increase from the same month last year.

Strike Shuts Down Vital St Lawrence Seaway Freight Corridor
A strike has shut down the St. Lawrence Seaway freight corridor after 361 Unifor workers walked off the job Sunday, October 22, after failing to reach an agreement on wages. The St. Lawrence Seaway serves as a vital maritime trade corridor that links Montreal with the Great Lakes. The strike is expected to impact over 100 ships along the route and primarily disrupt movement toward Canadian provinces.

Forwarders Warn of Delays as Israel Air Cargo Disruption Continues
The Israel-Hamas conflict is impacting airfreight and express shipments to and from the region, leading to potential service disruptions. Multiple airlines have suspended direct flights to Israel, and most carriers are not accepting bookings for these affected routes. This situation has left goods that are already in transit stuck until further notice.

Trends To Watch

• [Ocean – FEWB] EUR trade: In the last week, the market remains flat and rates continue at the $800 level. However, the spot price is down to $700. As expected, carriers are planning another General Rate Increase (GRI) starting on November 1st in order to cover operational costs. The first round of price increases has been announced between $1700 and $1800. Due to the GRI increases, there are expected to be more void plans (canceling sailings) if cargo recovery doesn’t improve in the coming weeks; For instance, after Ocean Alliance announced 5 more void plans for November, 2M Alliance followed suit, and announced 7 sailings to be voided in November during their Winter Program. MED trade: Following North European markets, a GRI has been announced for WMED pushing back up to $2000 levels. However, they are still seeing oversupply. Ocean Alliance has announced 6 more MED void plans to support the GRI in November, and there is an expectation that 2M & THE Alliance may follow.
• [Ocean – TAEB] As capacity is starting to decrease, carriers are planning their first-rate restorations. We have seen announcements for rates to increase as soon as November 15th, 2023. Overall the on-time performance (OTP) is getting better and back to pre-pandemic levels around 70-75% of the time.
• [Ocean – TPEB] October capacity has decreased as expected, however it is not as big a drop as was seen during CNY earlier this year. November’s outlook, on the otherhand, is still very healthy, but that has the possibility of changing. Demand ex-China has started to come online this week, bookings over the next 1-2 weeks will determine capacity for November. PN3 was discontinued from THE Alliance services for the foreseeable future. Expect healthy blanks, but overall capacity to be comparable to Q2/Q3.
• [Air – Global] In September, global air cargo tonnage and rates increased compared to August. According to WorldACD Market Data, global air cargo had a rise of nearly +3% in tonnages and a +5% increase in rates. However, in week 39 (September 25 to October 1), there was a slight -1% drop in tonnages and a +2% increase in regional rates, the most notable increases were observed between the Americas, Europe, and Asia. Overall cargo capacity increased by 10% compared to the same period last year. Rates are now at $2.37 per kilo, which is 31% lower than last year but 38% higher than pre-COVID rates in September 2019.
• [US Exports] TAEB: Transatlantic Eastbound (TAEB) capacity is decreasing due to canceled sailings and capacity cuts to transatlantic services. TPWB: Capacity is available from US Coastal Base Ports to China Base Ports and South East Asia’s Port of Delivery, but subject to continued canceled sailings. Inland Rail Ramps are reporting lower Excepted Quantity (EQ) levels due to reduced imports into the Midwest. If you’re booking a US export from a Rail Ramp, it’s advisable to book at least two weeks before the Cargo Receipt Date (CRD) to ensure EQ availability.

 

Source from Flexport.com

Trends To Watch

• [Ocean – Europe] The European Commission (EC) has decided not to extend the Consortia Block Exemption Regulation (CBER) when it expires on April 25, 2024. In place since 2009, the CBER was designed to encourage competition in the shipping industry. What impact this will have on shipping to and from Europe remains unclear. (source: JOC)
• [Ocean – Canada] Talks continue between representatives of the Port of Montreal Longshoremen’s Union and the Maritime Employers Association (MEA) as their current collective agreement expires on December 31, 2023. Longshoremen at the Port of Montreal are looking for wage increases of at least 20% over the next four years and full job security in three years, while the port operator is looking to limit how many workers get that level of security and a contract that guarantees union peace through the end of the decade.
• [Ocean – TPEB] October capacity is down as expected with Golden Week, however it’s less of a drop than we saw during Lunar New Year (LNY). November’s outlook is good, but subject to change. Demand ex-China is just starting to come online this week, bookings over the next 1-2 weeks will determine capacity for November. Q4 outlook: Expect to see a good number of blank sailings, but with overall capacity comparable to Q2/Q3 numbers. The pre-LNY push will likely start in December. More new builds will continue coming online, carriers will most likely offset with more blanks and by moving smaller vessels to other markets.
• [Air Freight – Global] In September, global air cargo tonnages increased by nearly 3% and rates rose by 5% compared to August, according to WorldACD Market Data. Despite this boost, September tonnages were still down 2% year on year, marking the smallest monthly YoY decrease in 2023.
• [Ocean – FEWB] The market on the EUR trade remains flat. As expected, carriers are planning another round of GRI from Nov. 1, aiming to push up the market again to cover operation costs. Ocean Alliance announced 5 more void plans for November, in order to support the potential GRI carriers may plan more voids if cargo recovery is still not ideal from Mid-Oct. MED trade: Following NEUR, there’s also a GRI for WMED, but so far oversupply remains the case. Expect the market to drop further if the current round of voided sailings doesn’t lead to general strengthening.
• [U.S. Exports] TAEB and TPWB are both seeing blank sailings impacting equipment levels at inland IPI locations. Please book 2+ weeks prior to CRD to ensure an optimal booking.

N. America Vessel Dwell Times

The Week In News

ILWU Dockworkers Union’s Sway at West Coast Ports Is Tested in Bankruptcy
In advance of a judgment against it for what a federal jury found to be illegal work stoppages at the Port of Portland in 2019, the International Longshore and Warehouse Union (ILWU) has declared bankruptcy. The ILWU represents more than 22,000 workers at 29 ports along the U.S. West Coast, and as such wields a significant amount of leverage when it comes to port operations and controlling the flow of goods entering and leaving the U.S.

IATA: First Air Cargo Demand Growth in 19 Months
As part of its August air freight analysis, the International Air Transport Association (IATA) released numbers showing that global cargo tonne-kilometers (CTKs) were up 1.5% year-on-year. At the same time, they showed CTKs being 1.3% below their pre-pandemic level in 2019. According to an IATA representative, “Air cargo demand grew by 1.5% over the previous August. This is the first year-on-year growth in 19 months, so it is certainly welcome news. But it is off a low 2022 base and market signals are mixed.”

 

 

Source from Flexport.com

Trends To Watch

• [Weather – Asia] Typhoon Koinu is currently centered east of Southern Taiwan and is forecast to move west-northwest over the next several days. The typhoon is forecast to make landfall in southern Taiwan by the morning of Oct. 5 and continue to move westward across the Southern Taiwan Strait through Oct. 8 while weakening to a tropical storm. Air impacts: Starting on the night of Oct. 4 there will likely be flight delays and cancellations across Taiwan as the typhoon approaches, these delays will persist through Oct. 5 as the system moves westward over Southern Taiwan. Ocean impacts: Starting on Oct. 4 there will likely be vessel delays, especially in the south of Taiwan, with port closures likely at Kaohsiung. These delays/closures will persist through Oct. 5 before conditions return to normal as the system continues westward. As the storm moves westward across the Southern Taiwan Strait between Oct. 5-7 vessels transiting north/south along East China could be impacted.
• [Ocean – FEWB] EUR trade: With soft demand and Golden Week impact, rates continue to drop. Ocean Alliance has announced 5 more void plans for Nov, the other alliances may still announce their own void plans even full service take-out over the rest of year. MED trade: demand has become weak, matching North Europe and there have been blank sailing announcements from all 3 alliances. Rates keep dropping and the spot rate is open again for WMED.
• [Ocean – TAEB] New blank sailings across the trade and further reduction of contract rates is demonstrating the widely available capacity from U.S. coastal ports and Midwest rail ramps.
• [Ocean – LATAM] Due to the ongoing drought situation in the Amazon region, ocean carriers have announced a Low Water Surcharge for all cargo going in and out of the Port of Manus in Brazil. Other carriers have pulled their service completely. Rio Negro’s water level fell by an average of 30 centimeters (11.8 inches) a day since mid-September and stood at 16.4 meters (54 feet) last week, approximately six meters below its level the same time last year.
• [Air – Global] While general air cargo tonnage has seen a decline year-to-date, special air cargo product verticals have experienced growth according to WorldACD Market Data analysis. Despite a 7% drop in total worldwide chargeable weight from January to August 2023 compared to the same period in 2022, specific product categories such as vulnerable/high tech, live animals, perishables, and valuables have shown notable growth, with special cargo products overall growing by 3%.

N. America Vessel Dwell Times

The Week In News

[VIDEO] Watch: How COVID Changed the Shipping Industry — Forever

Innovations developed during the height of the pandemic are helping ecommerce logistics stay attractive to consumers who became accustomed to package tracking, easy returns, and more. This according to Jakki Krage Strako, Chief Commerce and Business Solutions Officer with the U.S. Postal Service. Consumers have taken their expectations back to the office and remain loyal to companies who provide the best support and service.

FMCSA Will Award $44M To Improve CDL Processes

The money is intended to help streamline the process of training and onboarding badly needed new drivers by increasing staffing at Commercial Driver License (CDL) training centers, improving cross-state reporting, and other moves to help bolster the supply chain. According to Transportation Secretary Pete Buttigieg, “With these grants, we are helping states bring more well-trained drivers into this essential field, strengthening our supply chains for years to come.”

 

Source from Flexport.com

Trends to Watch

• [Ocean – FEWB] With soft demand and the expected impact of Golden Week, FAK rates continue to drop prior to the Golden Week holiday. Capacity cut for October is estimated to be 20-30%. On the Mediterranean trade demand has weakened and more blank sailings have been announced from all 3 alliances.
• [Air – Global] Overall market demand for air freight capacity is on the increase — particularly from Asia to the U.S. and Europe. South East Asian countries such as Thailand, Vietnam, Singapore and Malaysia are most impacted with surging demand levels due to consumer electronics and semiconductor production. At the same time, China and Hong Kong are experiencing rising demand levels due to ecommerce activity and New Product Introduction (NPI). Because all of this volume routes through 3 primary export gateways in Asia—HKG, PVG, and TPE—capacity is impacted resulting in extended transit times and rising rate levels.
• [U.S. Exports] US Export trades remain wide open with all carriers aggressively pursuing volume and pricing accordingly. Filling the backhaul remains a top priority and low rates reflect this aggressive push for market share accordingly.
• [Ocean – ISC > U.S.] Ocean freight demand ex India has softened in September resulting in carriers dropping rates. Drop in demand is expecting to persist through the first half of October.
• [Ocean – LATAM] Space remains open both northbound and southbound—and both to and from both coasts. Brazil exports: Vessel utilization at a very healthy level (~90-95%). We recommend placing bookings 4-5 weeks prior to CRD.

Wider Trends Worth Watching:

• Some shippers are beginning to restock after selling through last year’s overstocks, leading carriers to continue expecting a muted peak season using small gains around back-to-school and Halloween as guideposts.
• Mexico is seen as a growing market due to the nearshoring trend continuing to expand. Yard capacity south of the border at Laredo continues to grow and more rail links are being established.
• Shipping into the USWC is rebounding after uncertainty around labor actions and congestion in the first half of the year. Delays at the Panama Canal are a contributing factor, as are the lower rates compared to the U.S. Gulf Coast/USEC.

North America Vessel Dwell Times

This Week In News

[VIDEO] How the Panama Canal’s Drought Is Threatening Global Supply Chains   Ongoing drought conditions in the region have led the Panama Canal Authority to impose several layers of restrictions on vessels transiting this crucial sea route. This 10-minute explainer video does a good job of summarizing the situation while introducing additional context and background to ensure viewers are seeing the whole picture. Port of Long Beach Sees Modest Start to Peak Shipping Season According to the NRF, 2023 container imports to the U.S. will hit 22.3 million TEUs, down ~12.5% from last year yet up from the 22 million seen in pre-pandemic 2019. Numbers at the Port of Long Beach as we enter peak season seem to support that prediction, seeing 682,312 TEUs last month, a decrease of 15.4% from August 2022, but an increase of 18% over July.

Source from Flexport.com

Trends to Watch

• [Ocean – TAWB] Some carriers have announced withdrawal of capacity ex North Europe to US East Coast as the demand hasn’t picked up enough to justify the additional capacity—leading to the expectation that rates will bounce back from the beginning of November. Some additional capacity might enter the Mediterranean to Canada market, Ocean Alliance should announce this soon.
• [Ocean – LATAM SB] Exports overall are down 20% since the same time last year. Since the beginning of the year, MSC has been losing market share and as a result they have proactively decreased Q4 rates to West Coast South America in an attempt to regain market share. Although they have decreased rates, they are still above other ocean carriers in the market.
• [Ocean – LATAM > Canada] Crowley (niche LATAM carrier) recently announced the launch of a new service in partnership with CN rail that connects Mexico and Canada with a weekly ocean/rail combination between the port of Tuxpan, MX and Mobile, AL with a 2.5 day TT. This service is starting Nov 7 and they will offer dry and reefer services. This is targeting businesses that traditionally relied on FTL services connecting MX-Canada (west coast) and/or slower ocean transits connecting MX Gulf to Canada EC.
• [Ocean – U.S. exports] TAEB: Rates are rising out of Houston to north Europe base ports related to increased cargo routing through Houston via rail.
• [Ocean Ports – USEC] Hurricane Lee is moving up the US East Coast and approaching Canada. Expect vessel arrival days as the storm passes each port. The Port of Halifax, Canada, is closely monitoring the storm. Vessel delays to the port are highly likely.
• [Ocean – TPEB] September capacity overall at ~85%, a 5% increase from August and the 2nd highest month for total capacity this year. No further drop in capacity for September is expected. Vessel plans will remain in lead up to Golden Week (1 October) Golden Week closures expected to begin September 25/26, with most factories closed Sept 23 – Oct 8.

North America Vessel Dwell Times

This Week In News

Flexport Launches a Revolution to Democratize Supply Chain for Entrepreneurs This week, Flexport launched a supply chain revolution for entrepreneurs, the first truly all-in-one tool and end-to-end global trade solution powering instant access to financing, freight, fulfillment, and replenishment to all major marketplaces and retail stores. Those who want even more can join Flexport+, a membership program offering exclusive access to industry-leading supply chain financing, priority shipping services, and easy access to supply chain experts for heightened support. NRF acquires Reverse Logistics Association In a move to help its members establish and meet full-circle sustainability goals, The National Retail Federation (NRF) recently announced it had acquired the Reverse Logistics Association (RLA). With the continued growth in consumer demand for a true circular economy and visibility into what happens to goods after return, the NRF says they’re now better positioned than ever to support their members in meeting these demands as well as assisting with the growing issue of returns fraud.

 

Source from Flexport.com

Trends to Watch

• [Ocean – LATAM Northbound] ONE has introduced their new service, the FLX service, which will call at: Callao – Paita – Guayaquil – Cartagena – Port Everglades – Puerto Cortes – Cartagena.
• [Ocean – TPEB] Carriers continue blank sailing programs as import volumes remain uncertain. This could put a space crunch into the market as we approach Golden Week.
• [Ocean – ISC>N. America] Operations have normalized across ports in northwestern India. Overall demand is down YoY in terms of the value of goods shipped. Volume in terms of TEU down ~14% Jan – July YoY. Watch for blank sailings in September due to lower demand from India to southeast U.S. ports such as Savannah, Charleston, and Norfolk.
• [Regional – LATAM] Brazil exports are on the rise and GRIs are being implemented by all major ocean carriers. We expect volume to continue increasing into Q4 and recommend booking 4+ weeks ahead of sailing.
• [Regional – U.S.] Rain in the US Southwest continues to impact rail and road traffic. Shipments moving from California ports into the Southwest and Texas can expect to see 2-3 day delays in transit times. We are keeping an eye on Tropical Storm Lee which formed in the Atlantic and is forecast to become a major Hurricane. Earliest impacts to shipping would be the end of next week.
• [Air – Mode update] Air cargo volumes have continued to decrease through the year, narrowing to their lowest level as of July. This indicates that the market is showing signs of bottoming out, though analysts say that strengthening demand shows reason to be cautiously optimistic.

North America Vessel Dwell Times

This Week In News

ILWU Ratifies 6-Year Contract With a 75% majority, the International Longshore and Warehouse Union (ILWU) ratified a new 6-year contract with the Pacific Maritime Association (PMA) this week. The contract will retroactively start on July 1, 2022 (when the previous contract expired) and extends through July 1, 2028. The ratification comes at the end of a 13-month process that included labor actions, fears of a strike that could have severely hampered the U.S. supply chain, and multiple rounds of negotiations between the two parties. The contract affects 22,000 dock workers at 29 ports up and down the U.S. West Coast. Chatbots Are Trying to Figure Out Where Your Shipments Are Since OpenAI launched ChatGPT in November of last year, more companies have started investigating ways to use Generative AI, the technology that powers this and other recently launched tools, in their customer service and other public-facing aspects of their business. Artificial intelligence has been making its way into the backend of the industry for several years already, but the ability of generative AI to quickly parse data and respond to humans in a human-like manner has companies looking at ways to lighten the workload on their external-facing employees as well.

 

Source from Flexport.com

Trends to Watch

• [Regional – U.S. Gulf Coast] Hurricane IDALIA is causing disruptions in the Southeast. Flights from Tampa and Jacksonville are canceled today (August 30th) and the ports of Tampa, Jacksonville, Charleston, and Savannah are all closed. Expect ports to reopen 24-36 hours after storm passage, if it is safe to do so.
• [Regional – East Asia] Super Typhoon Saola is currently centered north of Luzon. The storm will move northwest-westward through Luzon Strait through the 31st while maintaining its intensity as a super typhoon. While Saola is not currently expected to make landfall in Taiwan or Southeast China there will be significant weather impacts across the region.
• [Trucking – Mexico] A nationwide strike has been averted for now as officials from the Mexican Alliance of Carrier Organizations (AMOTAC) have agreed to sit down with federal officials. The scheduled action would have ground trucking to a halt across Mexico, as well as impacting cross-border traffic into and out of the U.S.
• [Rail – U.S.] Norfolk Southern has said that the impacts of a recent outage could last for several weeks, though no shutdown is expected. A spokesperson said there were no indications of a cyberattack, though the cause of Monday’s outage is still under investigation.
• [Ocean – Indian Subcontinent] Indications of a rate increase on the Indian to U.S. East Coast lane have been announced within the market. Space is largely available to the East Coast, while the West Coast remains tight as these services are shared with the Transpacific market and are seeing an uptick in demand.

North America Vessel Dwell Times

This Week In News

Wind-Powered Cargo Ship Sets Sail in a Move To Make Shipping Greener In the race to uncover ways to lower the carbon footprint of the global shipping industry, a new project called Wind Wings stands to make an outsized impact. The project, a combined effort of UK-based BAR Technologies, Cargill, and the European Union, among others—retrofits steel and glass composite sails onto existing freighters. These high-tech versions of an old-school sail stand to cut fuel use by 1.5 metric tons per wing, per day on an average ocean route. Panama Canal Delays Have Shippers Mulling Freight Diversions The ongoing delays at the Panama Canal due to drought conditions in the region are causing some shippers to seek alternative routes to get their inventory to its destination. This may mean sending goods destined for the East Coast of the U.S. to ports on the West Coast then using roads and rail to finish the journey. Or it may mean sending containers on ships heading through the Suez Canal, despite the possibility of longer lead times and higher upfront costs.

Source from Flexport.com

Trends to Watch

• [Intermodal – U.S.] Rainfall from Hurricane Hilary has caused the closure of the Union Pacific and BNSF mainline rail between Southern California and Texas. The railroads expect service to be restored by 8/25 but shippers should expect additional delays as rail operations return to normal.
• [U.S. Exports – TPWB/TAEB] Overall demand remains soft, with carriers not eyeing a bounce back until late Q1’24. Rates continue to be aggressively priced by carriers in order to fill ships as capacity remains broadly available.
• [Ocean – FEWB] Demand remains flat—high inflation, high inventories, rising energy costs, and geopolitical instability are still impacting the demand on the European side. Carriers are eyeing a potential GRI for sometime in September, and more blank sailings and sliding vessels have been announced for next month as well.
• [Ocean – LATAM Southbound] Exports overall remain down and ocean carriers have continued to proactively reduce FAK rates in the hopes of attracting new business.
• [Ocean – LATAM Northbound] Brazil’s peak season usually kicks off in Q3 and although volumes are not at the same level as last year, vessel utilization has started to increase. As a result the three main ocean carriers (CMA, ZIM, MSC) have announced and/or implemented a GRI.

North America Vessel Dwell Times

This Week In News

Panama Canal Extends Transit Restrictions Through Sept. 2 The Panama Canal Authority said last week that current restrictions on vessel draft and the number of vessels granted transit daily will remain in place until at least Sept. 2, 2023. Those restrictions are a maximum allowed draft of 44 feet, or 13.41 meters, and 32 vessels per day. Those passages are divided into categories, with 14 vessels with reservations per day in the original locks (only suitable for smaller cargo ships) and 10 in the newer, larger locks. The remaining eight spots are given to vessels without reservations. What Was Once a Weed Could Fuel Jet Engines Biomass fuels, or fuels created by processing plant matter, are a growing area of interest for those involved in addressing the carbon footprint of the global supply chain (like Flexport’s Flexport.org division). And as interest in Sustainable Aviation Fuel (SAF) grows, several companies are hoping their non-food crop oilseed plants will be the first step to a carbon-neutral supply chain. These so-called ‘cover crops’ are grown during fallow seasons in the same fields as other food crops like soy or corn. That allows farmers to maintain their fields while generating additional income, and the result is a product that many hope will usher in that more sustainable supply chain.

 

Source from Flexport.com