
Freight Market Update: October 11, 2023
The European Commission will let the Consortia Block Exemption Regulation lapse in 2024, while Port of Montreal longshoremen and employers continue labor talks.

The European Commission will let the Consortia Block Exemption Regulation lapse in 2024, while Port of Montreal longshoremen and employers continue labor talks.

Transpacific capacity stayed oversupplied as carriers added blank sailings, Transatlantic rates fell on weak demand, and imports shifted to the US East Coast.

Easing port congestion drives declining Transatlantic and LATAM rates as Asia air capacity returns to pre-COVID levels and US rail ramps move smoothly.

Transpacific eastbound ocean rates soften amid low demand and easing congestion, as Flexport shares TPM 2023 insights and previews the 2023 ocean RFP season.

Transpacific eastbound rates soften amid low demand as weekly blank sailings remove about 30% of capacity and delays and congestion ease.

Transpacific capacity stays open post-Lunar New Year as routine blank sailings continue, with Canada conditions mirroring the U.S. market.

Transpacific eastbound capacity stays open after Lunar New Year as routine blank sailings continue and Vancouver dwell counts hold steady in February 2023.

Transpacific capacity stays open after Lunar New Year with routine blank sailings to stabilize rates and stable Vancouver conditions, per the February 7, 2023 update.