Market Update

Market Update: February 14, 2018

Ocean and air freight rates and trends for the week of February 14, 2018.

Flexport

Sind Sie bereit, mit Flexport zu starten?

Setzen Sie auf digitale Logistikprozesse und registrieren Sie sich hier.

Want to receive our weekly Market Update via email? Subscribe here!

Ocean Freight Market Updates

*Rates are steady; no GRI announced until March 1 *

Rates are looking much like they did last week, and we expect further stability -- or even a slight decrease -- throughout the rest of the month.

Spot rates are low considering the pre–Chinese New Year crunch, as the JOC notes.

Carriers have announced a GRI for March 1.

Space is very tight on the eve of Chinese New Year

As is typical for this time of year, capacity is extremely constrained out of China in advance of Chinese New Year -- particularly from Asia to the U.S. Carriers will implement blank sailings for the week following CNY, in an effort to more closely align supply and demand.

Air Freight Market Updates

Rates are up slightly ex-HKG

As air freight gets its final pre-CNY push, capacity is especially tight out of Hong Kong, and rates are up slightly. We may also see some flight cancellations after Chinese New Year.

Capacity is not terribly constrained out of China

A later-than-usual Chinese New Year is expected to minimize major capacity constraints out of China.

Trucking Market Updates

Trucking capacity shortage continues in the US and Canada

Several factors have converged to make this a tough season for trucking -- rates are high, and in some markets, it can take days to secure a pickup.

Import volume is up and ports are congested -- and, at the same time, capacity has been removed from the market due to the ELD mandate.

On top of that, there’s a significant driver shortage, and trucking companies are struggling with retention. Winter weather throws another wrench into the situation.

Even ocean carriers, who have traditionally secured favorable contracts and rates with trucking companies, are feeling the pinch -- some carriers are increasing their inland tariffs, or shying away from store-door contracts altogether.

Capacity issues do vary by region; this week, it’s especially tight in Savannah, Chicago; Houston, Savannah, and Kansas City.

Congestion continues at Savannah, Chicago, and Houston

Many U.S. ports are busy this time of year, but the situation is especially congested in Savannah, Chicago, and Houston (as it has been for weeks). If your cargo is routing through any of these ports, you may encounter delays and fees (such as trucking wait fees, chassis split fees, or demurrage).

Share the Article

More From Flexport

arrowImagearrowImage

Sind Sie bereit, mit Flexport zu starten?

Registrieren Sie sich für Neuigkeiten des Frachtmarktes

Jetzt einfach registrieren und Freight Market Updates erhalten

Erhalten Sie wöchentliche Einblicke und Informationen rund um das Thema globaler Handel – direkt in Ihren Posteingang.

Ich stimme der Speicherung und Verarbeitung meiner persönlichen Daten durch Flexport, wie in den Allgemeinen Geschäftsbedingungen und der Datenschutzerklärung beschrieben, zu.
LEGAL

Customs brokerage services are provided by Flexport’s wholly-owned subsidiary, Flexport Customs LLC, a licensed customs brokerage with a national permit. International ocean freight forwarding services are provided by Flexport International LLC, a licensed Ocean Transportation Intermediary FMC# 025219NF. U.S. trucking services are provided by Flexport International, LLC, a FMCSA licensed property broker USDOT #2594279 and MC #906604-B. All transactions are subject to Flexport’s standard terms and conditions, available at www.flexport.com/terms 沪ICP备16041494号

Copyright © 2020 Flexport Inc.

Nutzungsbedingungen/Datenschutzerklärung