December 2022 International Market Update
AN UPDATE FROM SUNSET’S INTERNATIONAL TEAM:
The following information from Sunset’s International team details the current International market conditions. Customer communication is vital with the instability of international trade.
Sunset is here to help with the most basic or complex shipments. Email [email protected] to speak further about how to manage any International needs that arise.
Ocean Industry
Current constraints
- TRANSPACIFIC EAST BOUND (TPEB)
- LAXLGB port situation remains relatively smooth vessels remain around 8 containers waiting for berth; however, vessel wait time remains 1 day.
- NYC and Savannah dwell both reduced to 7 and 14 days, respectively.
- Savannah has 30 vessels at anchor, a slight increase but remaining stable.
- HOU waiting time at 16 days with 12 vessels at anchor.
- LAXLGB on dock rail dwell average remains 10 days, off dock down to 14 days.
- Oakland congestion reducing with 8 vessels waiting for the berth and an average waiting time of 1 day; SEATAC port congestion largely cleared, but IPI still somewhat congested.
- IPI situation is improving with backlog clearing; however, chassis shortages plague inland ramps and prevent the smooth flow of cargo.
- TRANSPACIFIC WEST BOUND (TPWB)
- Congestion-related issues have generally started to ease throughout the U.S., with limited pockets in the Gulf and Southeast coasts still experiencing issues.
- Capacity on TPWB trades is readily available as carriers see reduced utilizations.
- Equipment is available at most CY locations; however, chassis supply remains tight.
- In contrast with the rate volatility on the TPEB trade, rate levels are mostly stable, with a slight downward trend on port/port rates.
- TRANSATLANTIC EAST BOUND (TAEB)
- Carrier utilization levels from U.S. West and Gulf coasts continue to be high, whereas space is readily available off the U.S. East Coast.
- Despite lingering congestion issues, carriers avoiding calls at Southeast ports have begun reintroducing Savannah and Charleston.
- Rates off the U.S. East Coast have been stable but could start to soften given the abundance of capacity, even with the reintroduction of Savannah/Charleston.
USA Origin:
Europe Origin:
Stability: Instability will continue into Q1 2023.
- November Imports fell 12% versus October, and 19.4% YoY.
- Decartes reported Monday that 1.9M TEU’s were imported in November.
- Global Schedule Reliability improved to 52% in October – this is an increase of 6.6% MoM.
Future Lookouts:
- Blank sailings are still rising due to volume drops.
- VLSFO Prices are still on the decline.
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