Freight Market Update: September 27, 2023
Golden Week blank sailings reshape Transpacific and Asia-Europe capacity as Panama Canal weight limits hold steady for late September 2023.
Golden Week blank sailings reshape Transpacific and Asia-Europe capacity as Panama Canal weight limits hold steady for late September 2023.
Strikes at Le Havre and Fos-sur-Mer have eased, Italy sees stable ocean rates, and Mainland China's post-pandemic reopening continues. Air lead times in LATAM range from 2–10 days depending on country, and U.S.-Mexico cross-border shippers should book 5–7 days ahead.
Transpacific eastbound demand stays flat after Golden Week as carriers blank sailings to remove capacity and US port congestion lingers in October 2022.
East coast congestion and intermodal challenges persist as spot rates fall below long-term rates and ILWU-PMA labor talks loom on the West Coast.
Transpacific eastbound rates fall further as space opens and reliability returns, with Shanghai recovering from lockdowns for late June 2022.
Transpacific rates keep falling on soft demand as Shanghai shipping resumes post-lockdown and ILWU-PMA labor talks loom, per the June 14, 2022 update.
Shanghai reopens after two months of COVID-19 lockdowns as manufacturing resumes, while Transpacific eastbound demand stays soft amid lingering uncertainty.
Transpacific capacity remains up for grabs as China lockdowns ease and ILWU-PMA labor negotiations continue, with signs pointing to worsening congestion.