From Asia to the US Pacific Southwest (PSW ports), the market has softened slightly due to capacity injections over the last several weeks. Spot rate levels are still high, but they are down a bit from July 1, and space is easier. Space is tighter to the Pacific Northwest (PNW ports), and some carriers are still avoiding Canada ports due to concerns about potential Canada rail labor action.
Space remains very tight to US East and Gulf Coast ports, and rates are holding. We are awaiting confirmation of July 15 rates; we may see a pause in rate increases mid-month.
Congestion at the Port of Charleston has improved in recent days since more berths have been opened for vessels. One carrier, ZIM, has announced a Charleston port congestion surcharge effective July 26.
There have been no recent developments on the US East and Gulf Coast labor contract negotiation. Some shippers are frontloading cargo, trying to stay ahead of potential delays this fall.
Early booking is critical, as always; we recommend booking a minimum of four weeks in advance to secure vessel space.
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CV International, Inc.