Freight Market Update: August 9, 2023
ILWU Canada ratifies new deal, clearing port backlogs. Tropical Storm Khanun threatens Busan operations Aug 9–11, while carriers roll out GRIs across all ocean lanes on Aug 15.
The latest on disruptions, rates, and market shifts
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Freight Market Update: August 2, 2023
A third ILWU Canada tentative agreement is up for vote, Panama Canal capacity drops to ~32 vessels/day, LA ports close August 3, and Typhoon Khanun threatens East Asia port operations.
Freight Market Update: July 19, 2023
Vancouver and Prince Rupert port strikes have resumed after ILWU-BCMEA talks collapsed again. Carriers are also adding Panama Canal surcharges, IMO 2023 is trimming ocean capacity, and LATAM rates are softening amid excess supply.
Freight Market Update: June 21, 2023
Ocean rates on transpacific and LATAM lanes keep sliding as soft demand outpaces supply, while India floating rates have stabilized ahead of July GRIs. U.S. trucking stays loose, with tender rejections below 3%.
Freight Market Update: May 31, 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.
Freight Market Update: April 4, 2023
Transpacific capacity stayed oversupplied as carriers added blank sailings, Transatlantic rates fell on weak demand, and imports shifted to the US East Coast.
Freight Market Update: March 21, 2023
Easing port congestion drives declining Transatlantic and LATAM rates as Asia air capacity returns to pre-COVID levels and US rail ramps move smoothly.
Freight Market Update: March 7, 2023
Transpacific eastbound ocean rates soften amid low demand and easing congestion, as Flexport shares TPM 2023 insights and previews the 2023 ocean RFP season.