CBP rejects warehouse entries on CAPE declarations, risking IEEPA refunds, as CPSC eFiling turns mandatory and TPEB rates climb on Panama Canal limits.
CBP rejects warehouse entries on CAPE declarations, risking IEEPA refunds, as CPSC eFiling turns mandatory and TPEB rates climb on Panama Canal limits.
Panama Canal bypass reroutes US export services to Asia, while weak demand and overcapacity push Transatlantic spot rates well below 2019 levels.
Panama Canal draft and transit restrictions persist after the driest October since 1950, with vessel crossings capped at 31 per day amid low Lake Gatun levels.
ONE launches a new LATAM northbound FLX service, carriers blank sail ahead of Golden Week, and Tropical Storm Lee threatens U.S. East Coast shipping. Brazil export volumes are rising, with GRIs in effect across major ocean carriers.
Hurricane Hilary has shut Union Pacific and BNSF mainlines between Southern California and Texas, with restoration expected by 8/25. Soft U.S. export demand, flat Far East westbound volumes, and a Brazil peak-season GRI round out this week's freight update.
Ocean rates have fallen to pre-pandemic levels on transpacific and transatlantic lanes as blank sailings mount and demand stays soft. Meanwhile, container volumes through Laredo, Texas hit a record high in March, offering early evidence of near-shoring in U.S. trade flows.
Blank sailings on Asia-North America lanes hit 64% in Q1, pushing effective ocean deployment to its lowest since before the pandemic. Plus: air capacity tightens out of Shanghai, FEWB rates hold firm, and a breakdown of working capital financing options for importers.