---
title: "Freight Market Update: July 12, 2023"
description: "B.C. strike continues; soft TPEB rates offer opportunity; LATAM and FEWB volumes down on inflation and seasonality; transatlantic air rates stabilizing after May lows."
language: en
canonical: https://www.flexport.com/global-logistics-update/freight-market-update-july-12-2023/
lifecycle: live
author:
  - "Flexport Editorial"
publishedAt: 2023-07-12T00:00:00.000Z
dateModified: 2026-07-26T13:21:54Z
readingTimeMinutes: 2
topics:
  - "Capacity & Rates"
  - "Market Updates"
  - "State of Trade"
  - "Global"
  - "Transatlantic"
  - "Transpacific"
  - "Air Freight"
  - "Ocean Freight"
---

# Freight Market Update: July 12, 2023

## Trends to Watch

\[Regional - British Columbia\] As the B.C. dock workers strike continues into its second week, please contact your account representative for the latest information on how this may impact your shipments.

\[Ocean - TPEB\] Take advantage of currently soft conditions on the floating market (low rates and open space). Consider leveraging premium services as they have returned to excellent transit time performance.

\[Ocean - LATAM\] Intra-Americas volume has softened across the board. Reasons for this include inventory overstock, slack seasonality, increase in capacity, and high inflation rates in key countries like Brazil, Chile, and Colombia.

\[Ocean - FEWB\] Demand and booking intake remain flat with high inflation, inventories, and energy costs; combined with geopolitical instability impacting demand on the European side. Further impacting trade on this lane is the summer holiday that traditionally starts in July and stretches for 4-6 weeks.

\[Air - Europe\] The market on the Transatlantic lane continues to soften in both directions. Demand is softening as a large amount of capacity is added for the summer schedule by U.S. and Europe airlines. Rates that bottomed out in mid-May are showing signs of stabilization.

## North America Vessel Dwell Times

![North America vessel dwell times chart — July 12, 2023](https://cdn.sanity.io/images/ynj1yl20/development/23e7cb64707213a227cc7f3c6a6adcc01e1d04ab-960x540.png)

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

---

*This is a markdown version of [https://www.flexport.com/global-logistics-update/freight-market-update-july-12-2023/](https://www.flexport.com/global-logistics-update/freight-market-update-july-12-2023/) for AI/LLM consumption.*