In a typical year, shipping by air and ocean follows a fairly predictable pattern of peak and slow times. However, this year is different as companies try to get ahead of new tariff implementations in the Transpacific Eastbound (China to U.S.) lane. Many shippers in this lane have ramped up their shipping early, while others are choosing to pay higher spot market rates in their preferred shipping times or waiting to see what will happen next. » Read More
Peak season for ocean freight shipping is underway. Which means that, as it does every year at this time, space is about to get very tight. That can make it difficult to meet your delivery times unless you take proactive steps now to minimize the risk in your supply chain. Here’s an easy way to think about the regular and potential future disruptors that could impact your ocean shipping strategy, and what you can do to prepare for what comes next.
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On January 1, the Trans-Pacific Eastbound (TPEB) market saw a general rate increase (GRI) take effect, following months of plunging rate levels. On January 4, the Shanghai Containerized Freight Index (SCFI) posted figures that showed week over week increases of 98% on West Coast rates and 77% on East Coast rates. At the same time last year, the market experienced upward trends, and carrier rate levels into the West Coast were roughly 27% higher than current rates. With nine GRIs announced by carriers since January 2015 making a big impact on the market, it’s important to understand why the increases happened and how the upcoming Chinese New Year plays a role. » Read More