Market Update

Market Update: March 21, 2018

Ocean, trucking, and air freight rates and trends for the week of March 21, 2018.

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

March 18 GRI is Canceled

Carriers have canceled the March 18 GRI. Rates are down from Asia and India to the U.S., as well as from Asia to Europe.

Rates for Europe to the U.S. are holding steady. There’s potential for rates to increase starting April 1 with weather disruptions and port closures in the past week in the UK.

U.S. Export Rates Remain Steady

Rates remain stable for U.S. exports, but there’s a potential increase on the horizon due to bunker prices. No GRI was implemented.

ONE Launches April 1

ONE (Ocean Network Express) will officially launch on April 1. The new line represents the integration of the three major Japanese carriers: MOL, NYK, and ‘K’ Line.

New services will be announced, and we’ll see changes to some strings served by THE Alliance -- different ports of call, and more capacity to the Southeastern U.S.

Air Freight Market Updates

HK Fuel Surcharge Decreases

It was announced that the fuel surcharge out of Hong Kong has decreased from $.27/kg to $.20 as of April 1. This announcement comes a year after the Hong Kong Civil Aviation Department (HKCAD) announced that airlines will be permitted to levy air cargo fuel surcharges for flights originating from Hong Kong.

Air France Strikes Continue

There’s a strike announced by Air France employees for Friday, March 23rd, so expect delays and possible cancellations.

Trucking Market Updates

Ocean Carriers Recoup Costs With Levy Emergency Fees

As a result of the electronic logging device (ELD) mandate, the truck capacity pressure is affecting inland cargo transportation including drayage, railroad, transloading, and long-haul truckload. In response, beneficial cargo owners (BCOs) are paying some ocean carriers an extra $300 per container for existing contracts. These charges accompany other reactions, including raising tariffs and suspending U.S. store-door deliveries.

Another factor contributing to the negotiation of service contracts is the higher surface transportation costs.

Trucking Costs Expected to Raise April 1

The ELD mandate will likely cause additional trucking rate increases when noncompliant truck drivers are placed out of service by law enforcement on April 1. Updates are also expected to negatively affect trucking productivity.

Ocean carriers expect that decreased productivity and rail ramp delays will also slow down chassis turnaround time.

Share the Article


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.

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. Cargo insurance is underwritten by an authorized insurance company and offered by Flexport affiliates. Insurance coverage is not available in all jurisdictions. See for more cargo insurance information and disclosures. All transactions are subject to Flexport’s standard terms and conditions, available at 沪ICP备16041494号

Copyright © 2021 Flexport Inc.