Industry News

Freight Rate Update: February 2019

Ronald Vincent | M.E. Dey & Co.

Here is the latest update on current freight rates for both Import and Export cargo. M.E. Dey provides the best possible rates available to our clients by reviewing various carrier options. We’ll keep you advised and informed as trade updates are announced.

 

Trans-Atlantic Westbound (Import)

  • Rates remain stable, but we continue to see issues with low water affecting inland movements via barge.
  • We are avoiding routing via APM Terminal in NY/NJ due to the terrible congestion at this terminal.


Trans-Atlantic Eastbound (Export)

  • Rates remain stable. Space remains tight on many lanes as export volumes continue to increase.
  • We encourage customers to book at least a week in advance.
  • We are avoiding routing via APM Terminal in NY/NJ due to the terrible congestion at this terminal.


Trans-Pacific Westbound (Export)

  • Rates remain stable. Space remains tight on many lanes as export volumes continue to increase.
  • With some carriers, we are having to book 2 weeks in advance.

 

Trans-Pacific Eastbound (Import)

  • As Chinese New Year begins many carriers have cancelled sailings for the first 2 weeks of February. While there is the possibility that the additional 15% duties will take effect on March 1st, there does not seem to be the same rush to ship in advance of March 1st.
  • At this time we are hearing that there will be excess space after Chinese New Year and that rates will be reduced. I believe it is hard to predict as the U.S./China trade negotiations may have a significant effect on shipping.

 

US Domestic

  • Truck power remains in high demand in many U.S. markets. Chicago continues to see very tight capacity.

 

M.E. Dey and Co. monitors the spot rate market daily. We work to find the best rate and service combination for our customers and pass our savings onto our customers. Contact us to talk with a representative or request a quote to get started.

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