Ocean, air, and trucking freight rates and trends for the week of April 11, 2018.
Want to receive our weekly Market Update via email? Subscribe here!
Carriers have announced a TPEB General Rate Increase (GRI) for April 15.
The April 1 GRI for TAWB was partially implemented.
ONE (Ocean Network Express) officially launched on April 1. The new line represents the integration of the three major Japanese carriers: MOL, NYK, and ‘K’ Line, to produce a combined 1,440,000 TEU fleet size.
With this merger, ONE represents about 16 percent of Far East - US Eastbound trade (if we’re looking at liftings share from May 2017 - January 2018, as reported by the Alphaliner).
Space is open across lanes, and there were no major changes in rates. The market is picking up Ex-India & Southeast Asia.
Sources projected approximately 30% of Air France flights to be canceled on Wednesday, April 11, due to continuing strikes. This represents about 40% of long-haul flights and 25% of short-haul flights.
Air France staff unions are looking for a 6% pay raise across the board, as wages have been frozen since 2011. The strike began on February 22, and potential strikes could take place on April 17, 18, 23, and 24, according to the Air France website.
Early signs indicate that spot truck rates will continue to rise through June. This news follows the 10 cents increase in the average U.S. truckload dry van spot market in the first few days of April.
For several years, trucking companies have considered spring the new peak season for shipping. Factors contributing to this increase in demand include early autumn retail demand, holidays, and the beginning of produce season. A shortage of drivers has also contributed to the tightening truck capacity.
The Commercial Vehicle Safety Alliance’s (CVSA) International Roadcheck is planned for June 5-7, 2018. Throughout North America, commercial vehicle inspectors will examine commercial motor vehicles and drivers.
Subscribe for the latest news on trade lanes, customs and tariff changes, and expert economic insight.