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The narrowing spread between East and West coast spot rates in the eastbound trans-Pacific comes as spot rates to the East Coast have fallen by 18 percent over the past six weeks while West Coast rates have ticked slightly higher.

Trans-Pac spot rate spread for East, West coasts narrows ahead of Lunar New Year 

Demand has slumped, overcapacity is on its way, and a rate war is igniting in the trans-Pacific, but analyst Lars Jensen says those factors are perfectly normal amid the cyclical downturn under way in container shipping.

Nothing extreme about current unpredictability in container shipping: analyst

Fundamentally, current data on ocean freight rates supports the notion that the market has, overall, reached a low point and is about to rebound slightly to be brought back in line with long-term trends, writes analyst Lars Jensen.

Data shows container shipping market could be at its bottom: analyst

The stickiness of the mid-April rate increase suggests that the first green shoots of US demand are beginning to emerge on the trans-Pacific.

Trans-Pacific carriers prepare hefty new GRIs on top of April increase 

A period of record profitability for ocean carriers is coming to a stark end, and amid a worsening supply-demand balance, the industry will find it increasingly difficult to raise rate levels, according to the maritime consultancy.

Container shipping heading for $10 billion loss in 2024: Drewry 

Hapag-Lloyd believes an increase in demand on east-west trades in the third quarter, together with rising carrier costs and IMO emissions rules, could mitigate the impact of surplus capacity flooding into the market. 

Ocean carriers face two years of excess vessel capacity: Hapag-Lloyd CEO 

How successful ocean carriers are in securing general rate increases comes down to the health of so-called green shoots of demand and the effectiveness of increased blanking of capacity.

Trans-Pacific capacity fills as risk of GRIs hangs over shippers

The South Korea-based liner became the latest carrier to illustrate the post-pandemic crash in container shipping, posting a 91% drop in net profit for the first quarter.

HMM says will take ‘cost-cutting measures’ after plunge in Q1 financials

Forwarders generally believe the limited GRI gains that have been achieved or are anticipated in the coming weeks on the India-US trades will be short-lived unless more capacity is withdrawn or a large increase in volumes occurs.

GRI attempts yield partial recovery success for India-US carriers

Forwarders do not expect prices to stabilize or trend up any time soon, with carriers increasingly struggling to secure steady booking levels to fill their export allocations out of India despite capacity readjustments.   

India-Europe contract prices tumble as demand rebound eludes carriers 

Some importers who were ready to finalize their contract negotiations with carriers have pulled back because spot rates in the eastbound trans-Pacific continue to the decline.

Upturned trans-Pacific market delaying service contract deals

The highs for the container shipping industry, as measured by profits and pricing power, hit atmospheric levels, raising questions of just how steep a fall is in store. 

 

Overcapacity, falling spot rates risk trans-Pacific rate war

CMA CGM continued its run of extreme profitability in the third quarter, strengthening its already solid balance sheet and slashing debt levels, but it warned that economic headwinds are strengthening. 

Ocean freight rate decline to accelerate through Q4: CMA CGM

The Port of New York and New Jersey and two of its marine terminals are funding further planning on a track project that would mean fewer delays out of the port.

NY-NJ port, terminals take next step in rail track project

Outbound truck spot rates to Chicago from US ports and border entry points are surging, with the biggest increases in eastbound lanes off the West Coast.

Chicago truck spot rates spiking off West, East coasts

Analysts have told the Journal of Commerce they expect spot market pricing to bottom out and remain flat for some time before rising again, most likely at a slow pace.

Spot truckload rates rising at US East Coast ports, falling on West Coast

Trucking and intermodal providers are offering discounts to secure freight in Southern California, where volumes are declining as imports from Asia fall.

Southern California volume declines cause truck, rail rates to plunge

While US intermodal shippers are pleased service has improved, some don’t need the service reliability they sought earlier in the year because of elevated inventories and fears of an economic recession. 

Falling volumes drive leaner forecast for US intermodal

The aggressive moves by intermodal providers to keep business with lower pricing come after North American domestic intermodal demand fell 10 percent between March and September.

Intermodal providers clawing to keep rail business in 2023

The JOC Intermodal Savings Index shows intermodal contracts saved shippers a lot of money in the third quarter, but spot rail rates saved very little, especially on short hauls in the eastern US.

JOC Intermodal Savings Index: Strong Q3 contract discounts

With import volumes sharply lower than last year, trans-Pacific carriers are more willing to consider requests for fixed-rate pricing and inland transportation bookings in 2023-24 service contracts, sources say.

Trans-Pac carriers showing flexibility in service contract negotiations: forwarders 

Federal Maritime Commissioner Carl Bentzel wants the agency to regulate rail storage fees in certain cases when ocean containers cannot be picked up from an intermodal terminal through no fault of the cargo owner.

Bentzel wants partial FMC oversight over rail demurrage

Shippers and port executives say the post-COVID shift of cargo back to Hong Kong is being hampered by the global slump in demand as developed countries grapple with elevated inventories and inflationary pressures. 

Hong Kong struggles to recover volumes lost amid South China cargo shift

The ability of ocean carriers to manage their growing supply of excess capacity is becoming weaker by the week as supply chain bottlenecks ease and global economic headwinds strengthen.

Ocean carriers struggle to match capacity with plummeting demand

Plunging imports from Asia in October, normally one of the busiest months of the year, signals a continued “flattening” of eastbound trans-Pacific demand in the coming months, according to Ben Hackett, principal at Hackett Associates.

Trans-Pacific volume decline picks up pace in October

The West Coast’s share of US imports from Asia will continue to deteriorate in the first quarter and beyond until terminal operators and the International Longshore and Warehouse Union agree on a new contract, sources say.

 West Coast cargo bleed to continue until labor talks are resolved: stakeholders

The influx of new drivers to the New York-New Jersey port helped it handle record volumes in 2022, but the downturn means less work and possibly more turnover. 

NY-NJ port stakeholders improve trucker experience as downturn cuts work

The buildout of warehouse and distribution capacity in Gulf Coast states is prompting ocean carriers to deploy larger ships, with Cosco Shipping joining the rush. 

Cosco upsizes Asia-US Gulf service to post-Panamax ships amid port upgrades 

The railroad will start a twice-weekly service to Dallas and once-weekly service to Denver, but no ocean carrier as yet is offering inland moves from Houston. 

BNSF to launch new Houston intermodal service in June 

Benefitting from equipment shortages in Asia and tight vessel capacity, NVOs continue to gain market share, but it’s the mid-size NVOs who are gaining at the fastest pace.

‘Second-tier’ NVOs gain share on Asia-US trade

With cargo volumes and spot rates out of Asia surging as the United States and other countries begin to climb out of the COVID‑19 recession, US importers are increasingly turning to non-vessel-operating common carriers (NVOs) to secure capacity.

NVOs gain trans-Pacific share as COVID-19 disrupts demand

The balance of power has shifted back to shippers for annual trans-Pacific contract negotiations, but many logistics managers, exhausted after the most chaotic and stressful period of their careers, could be more willing to work with forwarders or simply less motivated to haggle with carriers, writes Journal of Commerce Executive Editor Mark Szakonyi.  

Empowered, but weary, importers eye streamlined Asia-US contract talks 

While retailers normally divert some discretionary cargo to ports on the East and Gulf coasts in years when the ILWU and PMA negotiate a new contract, the shift away from the West Coast has been particularly dramatic this year.

Imports surge on East, Gulf coasts as ILWU contract talks drag

Activity at the ports of Los Angeles and Long Beach has a direct impact on the domestic intermodal market, large intermodal providers say, which is why rail volumes were so poor in the first quarter.

Weak Southern California port volumes hurting domestic intermodal

West Coast stakeholders are speaking up against the ILWU, saying contract-related job actions taken by longshoremen are impeding their ability to take delivery of containers at key ports.

ILWU ‘sending message’ to West Coast terminals as contract talks drag on

The Port of Los Angeles’ executive director acknowledged that stalled West Coast longshore labor talks are taking a toll on the port, but says the cost of shipping through California is also a big factor.

TPM23: LA-LB needs more than new labor deal to bring cargo back: Seroka

Southeast ports are handling more imports from Asia than ever, but it’s unclear how much of that growth will stick once negotiations over a new West Coast longshore contract conclude.

US SE ports prepping for more growth amid continued West Coast diversions

The cargo surge that began with the COVID-19 recovery in mid-2020 forced US ports to develop a new playbook to cope with the unprecedented port and inland supply chain congestion that resulted, according to APM Terminals.

LA-LB, NY-NJ at or near normal cargo fluidity: APM Terminals

The Gulf Coast ports of Houston and Mobile are the fastest and third-fastest growing gateways for US imports of Asian goods as shippers look to diversify away from the West Coast, regardless of the outcome of longshore labor talks.

Gulf Coast import share gains to outlast ILWU negotiations: ports

After a messy 2022, the West Coast is starting 2023 nearly congestion-free as worries rise about how much market share has been lost to the East and Gulf coasts.

US West Coast ports start 2023 virtually congestion-free

Freight forwarders warned that shippers could face weeks of delays due to back-to-back typhoons that have battered China, while blank sailings are rising ahead of the Golden Week holiday.

Typhoon closes Qingdao and Dalian ports, adding to shipper woes

Departures from Shanghai and Ningbo are expected to face a two-day delay after a typhoon hit coastal areas of eastern China over the weekend, while some Busan services were also disrupted.

Typhoon delays liner services from key Asian ports

A variety of data sources suggest it is premature to conclude that supply chain bottlenecks have reverted to their pre-COVID levels, as issues continue to be more pervasive than before the pandemic, writes analyst Jason Miller.

Global supply chains not quite back to pre-pandemic norms: analyst 

Shanghai to Los Angeles, New York container spot rates (Drewry)

The World Container Index (WCI) assessed by Drewry reports actual spot container freight rates for major east–west trade routes. The index consists of eight route-specific indices representing individual shipping routes and a composite index. All indices are reported in USD per 40-foot container and are weighted for volume as expressed in millions of TEUs. Data for the index is collected from transport intermediaries (freight forwarders non-vessel operating common carriers) in Europe, North America, and Asia. [Drewry](drewry.co.uk )

Shanghai to US container spot rates (Drewry) Gateway

North Asia to US West Coast and East Coast container spot rates (Platts)

Container spot rates are produced by S&P Global Platts editors who are engaging with market participants to assess the current value of freight-of-all-kinds (FAK) rates on major container trades. The rates include bunker adjustment factors, general rate increases and emergency rare restoration. They also include low-sulfur, equipment imbalance, and repositioning surcharges. The rates exclude terminal handling, port security, overweight container, delivery, and detention and demurrage charges. [Platts](https://www.spglobal.com/commodityinsights)

Platts North Asia to US East and West Coasts Weekly Gateway

Southeast Asia to US West and US East Coast container spot rates (Platts)

Southeast Asia to US East and West Coasts Weekly Gateway

Shanghai to US West and East Coast container spot rates (SSE)

The Shanghai Shipping Exchange’s (SSE) Shanghai Containerized Freight Index (SCFI) reflects spot rates and associated seaborne charges for containerized exports from Shanghai. The SCFI includes indices of freight rates in 13 individual shipping routes and a composite index, using Oct. 16, 2009, as the base period (Oct. 16, 2009 = 1000).[SSE](en.sse.net.cn/indices/scfinew.jsp)

Shanghai to US Coasts container spot rates (SCFI-Weekly) Gateway

Indian Subcontinent to US East Coast container spot rates (Platts)

Platts Indian Subcontinent Asia to US East Coast Weekly Gateway

China to US West Coast and East Coast container shipping index (CCFI)

China to US West and US East Coasts price index (CCFI-Weekly) Gateway

China to US West Coast container rate index (CTS)

The Container Trades Statistics (CTS) volume indices is based on monthly container volumes from specific ports of loading and discharge provided by container shipping lines that are members of World Liner Data Limited. Volumes are aggregated by port, country, subregion, and region. Additional data is collected from non-member carriers to ensure total volumes are accurate. Various trade lanes have competition rules that apply to port- and country-specific data. [CTS](containerstatistics.com)

CTS China to USA West Coast container rate index Gateway

Asia to US West and East Coast container spot rates (Xeneta)

Xeneta’s ocean freight spot and contract pricing benchmarks gather over 10 million rates monthly from large volume global shippers and freight forwarders. Before releasing any market information, a minimum of five daily rates per route, per equipment type is required. This defines the foundation upon which Xeneta builds stronger benchmarks as additional rates are sourced. Xeneta aggregates freight rates for both short-term contracts valid for less than 32 days. [Xeneta](xeneta.com)

Xeneta Asia to US West and East Coast container spot rates Gateway

Outbound spot dry van trucking rates from NY-NJ, Virginia, Houston, Savannah (Various sources)

The outbound port rates are calculated using data from Cargo Chief, DAT, and digital freight broker Loadsmart, and a survey of truckload brokers who participate on the condition of anonymity. Outbound port rates cover the regions of Los Angeles-Long Beach, Oakland, and Seattle on the West Coast, and Houston, New York-New Jersey, Virginia, and Savannah in the Gulf and East Coasts.

Outbound spot dry van trucking rates from US East, Gulf Coast ports Gateway

Outbound spot dry van trucking rates from LA, Seattle (Various sources)

Outbound spot dry van trucking rates from US West Coast ports Gateway

Atlanta, Linden, NJ, domestic spot rail rates to Chicago (InTek)

InTek Freight & Logistics collects door-to-door intermodal spot rate data every Tuesday via the NA Class I railroads’ customer portals. The rates are all-inclusive — railroad linehaul, origin and destination drayage, and chassis and fuel surcharges associated with all three shipment legs. Drayage assumes no more than 50 miles from either the origin or destination intermodal ramps. [InTek](intekfreight-logistics.com)

Linden, Atlanta to Chicago InTek Freight Logistics Gateway

LA, Oakland, Seattle domestic rail spot rates to Chicago (InTek)

Los Angeles, Oakland, Seattle to Chicago InTek Freight Logistics Gateway

US imports from Asia (PIERS)

PIERS containerized US import and export volumes is the transportation industry’s largest US waterborne trade data set, covering 100 percent of US port locations. Every day, the PIERS team processes an average of nearly 60,000 bills of lading filed with US Customs and Border Protection (CBP) and integrates this transactional trade data with standardized company details. PIERS contains US trade data going back to 2003. [PIERS](https://www.spglobal.com/marketintelligence/en/mi/products/piers.html)

PIERS US imports from Asia (Monthly) (year-over-year-change) Gateway

US containerized imports from China (PIERS)

PIERS US Imports from China (Monthly) (year-over-year change) Gateway

US containerized imports from Asia to West Coast (PIERS)

PIERS US West Coast imports from Asia (Monthly) (year-over-year change) Gateway

US containerized imports from Asia to East Coast (PIERS)

PIERS US East Coast imports from Asia (Monthly) (year-over-year change) Gateway

US containerized imports from Asia to Gulf Coast (PIERS)

PIERS US Gulf Coast imports from Asia (Monthly) (year-over-year change)Gateway

Carrier direct vs NVO control of Asia imports (PIERS)

PIERS market share BCO vs NVO imports from Asia (monthly) (year-over-year) Gateway

Top US ports by Asia import market share (PIERS)

PIERS Top 5 market share LA, LB, NY-NJ, Seattle-Tacoma, Savannah, Virginia, imports from Asia (Monthly) Gateway

Coastal share of US imports from Asia (PIERS)

PIERS US coastal market share imports from Asia (Monthly) (year-over-year-change) Gateway

Coastal share of US containerized imports from Asia (PIERS)

PIERS TEU market share US coastal imports from Asia (YTD) Gateway

Top Asia ports for US containerized imports (PIERS)

PIERS containerized US import and export volumes is the transportation industry’s largest US waterborne trade data set, covering 100 percent of US port locations. Every day, the PIERS team processes an average of nearly 60,000 bills of lading filed with US Customs and Border Protection (CBP) and integrates this transactional trade data with standardized company details. PIERS contains US trade data going back to 2003. [PIERS](Ihsmarkit.com/products/piers.html)

PIERS Top 10 US ports imports from Asia (YTD) (year-over-year change) Gateway

LA-LB terminal and rail dwell times (PMSA)

The Pacific Merchant Shipping Association (PMSA) calculates local-delivery container dwell times at the ports of Los Angeles and Long Beach time by the number of inbound loaded containers which are out-gated at each marine terminal by truck during the month, as well as the average dwell time in days for those out-gated containers. Average rail container dwell is calculated based on the amount of time a container sits on the marine terminal at the ports after it is discharged from the vessel and before it is loaded. [PMSA](pmsaship.com)

Los Angeles-Long Beach terminal and rail dwell times (PMSA) Gateway

LA-LB percent truck turn times (HTA)

Los Angeles-Long Beach Average truck turn times (HTA) Gateway

Ningbo, Shanghai container port congestion index (Portcast)

Portcast reports on port congestion by processing and analyzing rich Automatic Identification System (AIS) data to determine vessels’ behavior and speed on the way to a given destination port to generate a congestion index for each port. Each index accounts for all vessels, including those that do not have estimated times of arrival (ETAs) or are waiting at anchorage, and uses multiple data sources monitored by humans to make corrections around edge cases. [Portcast](portcast.io/solutions/port-congestion-tracker)

China ports congestion index (Portcast) Gateway

Long Beach, Los Angeles, Savannah congestion index (Portcast)

Portcast reports on port congestion by processing and analyzing rich Automatic Identification System (AIS) data to determine vessels’ behavior and speed on the way to a given destination port to generate a congestion index for each port. Each index accounts for all vessels, including those that do not have estimated times of arrival (ETAs) or are waiting at anchorage, and uses multiple data sources monitored by humans to make corrections around edge cases. 

[Portcast](portcast.io/solutions/port-congestion-tracker)