---
title: "Freight Market Update: September 13, 2023"
description: "Capacity cuts on North Europe–USEC, MSC rate reductions in LATAM, a new Crowley Mexico-Canada ocean/rail service, Hurricane Lee port delays, and Golden Week impacts on TPEB."
language: en
canonical: https://www.flex.thisisbrew.com/global-logistics-update/freight-market-update-september-13-2023/
lifecycle: live
---

# Freight Market Update: September 13, 2023

## Trends to Watch

\[Ocean - TAWB\] Some carriers have announced withdrawal of capacity ex North Europe to US East Coast as the demand hasn't picked up enough to justify the additional capacity—leading to the expectation that rates will bounce back from the beginning of November. Some additional capacity might enter the Mediterranean to Canada market, Ocean Alliance should announce this soon.

\[Ocean - LATAM SB\] Exports overall are down 20% since the same time last year. Since the beginning of the year, MSC has been losing market share and as a result they have proactively decreased Q4 rates to West Coast South America in an attempt to regain market share. Although they have decreased rates, they are still above other ocean carriers in the market.

\[Ocean - LATAM Canada\] Crowley (niche LATAM carrier) recently announced the launch of a new service in partnership with CN rail that connects Mexico and Canada with a weekly ocean/rail combination between the port of Tuxpan, MX and Mobile, AL with a 2.5 day TT. This service is starting Nov 7 and they will offer dry and reefer services. This is targeting businesses that traditionally relied on FTL services connecting MX-Canada (west coast) and/or slower ocean transits connecting MX Gulf to Canada EC.

\[Ocean - U.S. exports\] TAEB: Rates are rising out of Houston to north Europe base ports related to increased cargo routing through Houston via rail.

\[Ocean Ports - USEC\] Hurricane Lee is moving up the US East Coast and approaching Canada. Expect vessel arrival days as the storm passes each port. The Port of Halifax, Canada, is closely monitoring the storm. Vessel delays to the port are highly likely.

\[Ocean - TPEB\] September capacity overall at ~85%, a 5% increase from August and the 2nd highest month for total capacity this year. No further drop in capacity for September is expected. Vessel plans will remain in lead up to Golden Week (1 October) Golden Week closures expected to begin September 25/26, with most factories closed Sept 23 - Oct 8.

Please reach out to your account representative for details on any impacts to your shipments.

## North America Vessel Dwell Times

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

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