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