---
title: "Freight Market Update: August 23, 2023"
description: "Hurricane Hilary disrupts U.S. intermodal rail; soft export demand globally; FEWB carriers eye September GRI; Brazil peak season lifts LATAM northbound vessel utilization."
language: en
canonical: https://www.flex.thisisbrew.com/global-logistics-update/freight-market-update-august-23-2023/
lifecycle: live
---

# Freight Market Update: August 23, 2023

## 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.

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