---
title: "Freight Market Update: August 16, 2023"
description: "TAWB rates stabilize below pre-pandemic levels; TPEB capacity falls to 514k TEU. CPKC doubles its reefer fleet. South American eastbound utilization rises into peak season."
language: en
canonical: https://www.flex.thisisbrew.com/global-logistics-update/freight-market-update-august-16-2023/
lifecycle: live
---

# Freight Market Update: August 16, 2023

## Trends to Watch

\[Ocean-TAWB\] After dropping for several weeks, rates have stabilized below pre-pandemic numbers. Carriers will start trying to maintain healthy levels by managing capacity with possible blank sailings or slowing transit speeds in the coming weeks/months.

\[Ocean-TPEB\] Capacity is down from 648k TEU to 514k TEU, dropping but remaining close to the four week average of 525k.

\[Ocean - ISC U.S.\] Indian Subcontinent: No GRI has been announced for the second half of August. There are some reductions on Sri Lanka (LK) and Bangladesh (BD) origins as well as North West India to USEC. Be aware that monsoon season and a heatwave in Bangladesh may cause some operational delays at origin.

\[Intermodal - Canada\] Canadian Pacific Kansas City (CPKC) announced the addition of 1,000 53-foot refrigerated containers to its intermodal network, more than doubling their existing fleet and bringing more options to customers using their Mexico Midwest Express (MMX) Series premium intermodal service.

\[Ocean - LANB\] From the East Coast of South America, vessel utilization remains healthy and picking up right in time for peak season, while from the west utilization is low due to the saturation in the market. ONE will also be injecting capacity into the USEC.

## North America Vessel Dwell Times

For more details, please visit Flexport’s Ocean Timeliness and Air Timeliness indicator pages.

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*This is a markdown version of [https://www.flex.thisisbrew.com/global-logistics-update/freight-market-update-august-16-2023/](https://www.flex.thisisbrew.com/global-logistics-update/freight-market-update-august-16-2023/) for AI/LLM consumption.*