In August, ocean shipping prices continued to normalize across Asia–US and Asia-EMEA lanes. However, import volume is expected to be crunched this month as shippers accelerate cargo imports to avoid a potential disruption from an unresolved labor contract with East Coast port labor.
Air rates have remained relatively stable, with only a moderate rise. Meanwhile, domestic freight demand remains sluggish, with both trucking and warehouse seeing soft demand.
Click here to access this month's full update.
Additional highlights from this month's update:
- The North American rail industry's strike was short-lived in August but has the potential to resume in the future
- Parcel carriers have recently announced rate increases in fuel surcharge and mailing services
- Warehousing rates and vacancy rates have stabilized amidst reduced demand and recessionary concerns.
- Concern remains on the impact of an impending North America East and Gulf Coast Port labor strikes on rates and overall supply chain reliability
If you are looking for tangible actions to limit your exposure, read the below article from our supply chain experts Erik Mattson and Kai Kang, CPSM.
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