The Public Service Alliance of Canada (PSAC) has been on strike since April 19, 2023. However, this strike has not directly impacted vessel, rail or truck operations in Canada. While overall trade capacity has been reduced due to blank sailings, space for TPWB cargo remains readily available. U.S. East Coast capacity is abundant as supply outstrips demand.
The Public Service Alliance of Canada (PSAC) has been on strike since April 19, 2023. However, this strike has not directly impacted vessel, rail or truck operations in Canada. Vancouver waiting time significantly reduced to 3 days; stable weekly coverage is expected. The U.S. monthly international trade deficit decreased in March 2023 from $70.6 B to $64.2 B.
Across the major East-West head haul trades: Transpacific, Transatlantic and Asia-North Europe & Med, 51 cancelled sailings have been announced between April 10 – May 14, out of a total of 675 scheduled sailings, representing an 8% cancellation rate. During this period, 51% of the blank sailings will be occurring in the Transpacific Eastbound, 45% on Asia-North Europe and Med, and 4% on the Transatlantic Westbound trade.
Attention shippers and carriers: fraud is at an all-time high. Transportation industry insiders have seen historic levels of fraud beginning in Q4 2022 and continued into the new year. According to RMIS and other industry sources, most of it is caused by carrier contact impersonation. Sunset employees have been trained to mitigate this issue, and…
Across the major East-West head haul trades: Transpacific, Transatlantic and Asia-North Europe & Med, 56 cancelled sailings have been announced between weeks 11 and 15, representing an 8% cancellation rate. During this period, 57% of the blank sailings will be occurring in the Transpacific Eastbound, 34% on Asia-North Europe and Med, and 9% on the Transatlantic Westbound trade.
The U.S. monthly international trade deficit increased in December 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $61B in November to $67.4B in December, as imports increased, and exports decreased. Global Schedule Reliability improved 0.1% from November to December remaining at 56.6%.
A loss of freight from US home construction and manufacturing is depressing spot market volumes and rates for flatbed trucks, creating surplus capacity which isn’t currently being matched with demand. The current load-to-truck ratio on 1/22 is 2.08. Now that the holidays are over and truck availability has opened, capacity has softened to meet current demand.
Many Chinese factories are closing earlier and for longer this year than in past years, and volumes are likely to remain depressed until March. Carriers are experiencing low utilization levels on TPWB, and capacity is readily available on almost all services. Most US East Coast services to North Europe and the Mediterranean are experiencing medium to low utilization levels and limited space constraints.
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