21/08/2023
🔶Air Freight Update
- Asia - Low demand, ample capacity, rates stable- Europe - Capacity and demand stable, spot rates competitive - Oceania - Softer demand, growing capacity, spot rates declining- LATAM - Ample capacity across all trade lanes, competitive spot pricing- North America - Stable U.S. exports, some capacity shifting, Mexico airport change deadline extended- South Asia/Middle East/Africa - Steady India market, ample U.S. import capacity
🔶Ocean Freight Update
- Most trade lanes flat, vessel overcapacity prevents rate increases- Transpacific remains strong, 4 consecutive rate increases - Schedule reliability stalling due to void sailings and slow steaming- Asia exports face delays and rollovers, U.S. inbound recovery uneven- Europe rate increases unlikely, social movements may continue
- LATAM rates stable to down, equipment shortages persist - North America - New U.S. Gulf services helpful, India trade still tight
- Oceania - Trans-Tasman market softened, elsewhere space opening up
- India tightening capacity to increase rates, Mundra port congestion
- North America inland delays expected as backlogs clear
🔶Inland Drayage Update:
- North America: Backlogs from Canada strike moving to Chicago, Detroit, Memphis. Prepare for accessorials.
- U.S. Southeast: Savannah suspended Sunday gate hours. Minimal impact expected. Jacksonville seeing backups due to volumes and construction.
- U.S. Northeast: Philadelphia highway congestion post-bridge collapse. Chassis shortage in Buffalo.
- Central/Ohio Valley: Cleveland challenges at Norfolk Southern rail. No major issues in Memphis/Nashville.- Chicago: Potential rail congestion as backlogs clear. Some chassis shortages.- Minneapolis: Delays at ramps. Chassis availability improving.
- Kansas City: Terminal flip delays continue. Chassis shortages.
- U.S. West/Gulf: LA/LB recovery uneven. MSC dual transaction requirement.
- Seattle/Tacoma slowdown from disputes. New Houston container depot.- Asia: Stable domestic China market. Peak season rebound expected.
- Oceania: Australian ports operating within capacity. BMSB season may cause delays. Price increases at Australia empty container parks.
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