Freight Market Update: September 27, 2023
Updates from the global supply chain and logistics world | September 27, 2023
Trends To Watch
- [Ocean - TPEB] Blank sailings will continue impacting available capacity and schedules between now and the end of Golden Week (Oct. 8), while the weight restrictions that remain in place for vessels transiting the Panama Canal have not caused a noticeable increase in transit times.
- [Ocean - FEWB] Rates are dropping due to soft demand and the impacts of the upcoming Golden Week holiday. More blank sailings have been announced, carriers will reassess demand after the holiday before making more such announcements. Demand on the Mediterranean trade has softened to nearly the same level as N. Europe.
- [Regional - U.S. Exports] TPWB is seeing blank sailings related to the upcoming Golden Week holiday in Asia. TAEB has widely available capacity, correspondingly low rates based on port lanes, and will also likely see service reductions as a result of the holiday. Some inland rail ramps are low on equipment due to lower than anticipated import volumes.
- [Ocean - TAWB] While there is talk of further blanked sailings and capacity withdrawal, the only confirmations thus far have come from Ocean Alliance and 2M. The overall situation on this trade remains unstable with demand not picking up enough for sailings to be 100% full.
- [Air - Asia] Shenzhen airport is promoting the upcoming construction of a “digital express logistics part” and working with Chinese customs officials to digitize the express mail process in response to the rapid growth of cross-border ecommerce volumes.
N. America Vessel Dwell Times
North America Platform Demo
Weds, October 11 @ 12:00 pm PT / 3:00 pm ET
North America Freight Market Update Live
Thurs, October 12 @ 9:00 am PT / 12:00 pm ET
This Week In News
The new ship is powered by a combination of two motors, one running on standard maritime fuels and the other powered by green methanol. This is the first of a total of 25 similar ships ordered by Maersk due for delivery by 2024, part of a move by the carrier to update their fleet of 700 ships and become carbon neutral by 2040.
As discussed in a recent Flexport blog post and webinar, the Federal Maritime Commission (FMC) is looking for input as they build out the rules and regulations for the Maritime Transportation Data Initiative (MTDI). The official request for information went live in August and is still open, with different sets of questions targeting two primary audiences: transportation service providers and shippers.
Elevate Your Business with Last-Minute Air Freight Solutions by Flexport
How Flexport Customers Shaped Our All-in-One, End-to-End Supply Chain Solution
Everything You Need to Know About Outsourcing Fulfillment, Part 3
Sign Up for Freight Market Updates
Why search for updates when we can send them to you?