As supply-demand dynamics rapidly shift back to the shipper side, all general rate increases and peak season surcharges that have failed to take off since early August are now being pushed to October.
Seasonal demand for reefer containers on the north-south trade lane, combined with a surge in Brazilian beef exports, could lead to equipment scarcity by the year’s end, market watchers say.
As the threat of a US port strike approaches, the Biden administration must walk a particularly precarious line: Don’t upset union voters ahead of the presidential election while protecting the economy and an image of responsible economic stewardship.
