The combination of the Golden Week holiday in China coupled with the impact of power restrictions on industrial output resulted in some relaxation of the space situation in the month of October. Industry-wide, there was more space available in October than what had been typically available in previous months. This phenomenon put some downwind pressure … Continued
The vessel bunching this week at the Los Angeles-Long Beach port complex is a visual example of the deterioration in Eastbound TransPacific ocean reliability. At least 20 container ships were waiting at anchor as of Monday with 16 more expected to arrive throughout this week. Port congestion increased to full tilt as carriers have rapidly … Continued
Containers at Southern California warehouses have been piling up due to high volumes and the nearly doubling of the amount of street dwell time, disrupting the delivery of merchandise in the US market. The container accumulation at the ports is largely due to the import surge since the economic recovery from the COVID-19 lockdowns began … Continued
Ocean carriers in the Trans-Pacific trade have announced rate increases effective Sept 1, 2020. Rates to USWC ports will be increased by between $400-$450/container. IPI rate increases will also average between $400-$450/container while rates to USEC ports will be increased on average between $500-$700/container. Vessel space on the Trans-Pacific continues to be extremely tight despite … Continued
Carriers on the trans-Pacific eastbound lane have successfully imposed a Peak Season Surcharge (PSS) effective June 15. Although trade volumes continue to lag, the carriers’ policies of aggressive capacity management hav resulted in upward pressure on rates. So far this month, rates to the US West Coast have increased by 29.2% while US East Coast … Continued
Increases in blank sailings in response to low volume levels is causing rate hikes and space constraints with many of the big carriers. Earlier this week, The Alliance (Hapag Lloyd, ONE, YML and HMM) along with the 2M Alliance (Maersk Line and MSC) announced that about 75 sailings will be canceled through September in a … Continued
