Industry News

Freight Rate Update: March 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. Equipment 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. Equipment 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)

  • With Chinese New year behind us and the Trump administration postponing the implementation of additional duties, the slack season is actually acting like the slack season.
  • With many factories still returning to 100% production shipment volume is down.
  • With excess capacity in the market we have seen spot rates drop significantly in the past week. For many lanes, rates are now $ 500 – $1,000 less per container than rates prior to Chinese New Year.
  • Most carriers have filed a GRI for March 15th, but we do not expect this GRI to be implemented.
  • We have received notice that steamship lines are canceling some sailings in March to try and control capacity.
  • We are now in the run up to contract season for TPEB. Most TPEB contracts run from May 1st thru April 30th of the following year. Some industry experts are predicting a 20% increase in contract rates year over year. We have not heard this directly from any carriers, yet.

 

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. We also provide fixed rate contracts in addition to standard market rates. Contact us to talk with a representative or request a quote to get started.

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