FREIGHT MARKET UPDATE | WEEK 02 | 2024

2024-03-06T22:30:06+00:00January 10th, 2024|Freight Market, Freight Talk, Shipping News|
WEEKLY FREIGHT MARKET UPDATE
freight market update 2024 WEEK 02 BUILD RESILIENCE A range of options are available for businesses to mitigate disruptions and build resilience within their supply chain. Green Worldwide recommends: Partnering with a freight forwarder that will leverage its network to keep your freight moving. Using warehousing facilities to maintain inventory close to key markets. Implementing visibility tools that provide real-time tracking systems to enhance efficiencies. GLOBAL UPDATES Red Sea / Suez Canal - Despite the presence the multinational Operation Prosperity Guardian deterrent, attacks on commercial vessels transiting the Red Sea continue. Major ocean carriers continue to take the longer route around the Cape of Good Hope causing delivery delays, tight capacity, and rate increases. Panama Canal - All carriers operating on the Asia-Transpacific lanes diverted their vessels back into the queue awaiting transit through the Panama Canal or travel longer distances to transit around the Cape of Good Hope leading to an increase in canceled sailings and rate increases. Supply chain resilience refers to the ability of a supply chain to adapt, recover, and maintain continuous operations when disrupting events such as natural disasters, armed conflicts, labor shortages, or equipment scarcity occur. Contact Green freight experts at greenworldwide.com
west coast SEATTLE | TACOMA Container ships at port: 1 SEA, 4 TAC Vessel wait time: 0 - 3 days Gate turn times: 28 - 35 minutes Import dwell: 1 - 4 days OAKLAND Container ships at port: 6 Vessel wait time: 0 - 3 days Gate turn times: 61 - 62 minutes Import dwell: 3.4 - 4.2 days LOS ANGELES | LONG BEACH Container ships at port: 12 LA, 8 LB Gate turn times: 24 - 88 minutes Import dwell: 3.2 days Rail dwell: 4.0 days Street dwell: 4.4 - 5.9 days canada VANCOUVER Container vessels at port: 3 Yard utilization: 77% Rail dwell: 3 days PRINCE RUPERT Container vessels at port: 0 Yard utilization: 55% Rail dwell: 6.3 days
u.s. east coast NEW YORK | NEW JERSEY Container ships at port: 6 Vessel wait time: 1.5 - 3 days Gate turn times: 35 - 62 minutes Note: APMT will NOT have Saturday gates open CHARLESTON Container ships at port: 3 Vessel wait time: 0 - 1.5 days Gate turn times: 19 - 20 minutes NORFOLK Container ships at port: 5 Vessel wait time: 0 - 2 days Gate turn times: 32 - 48 minutes SAVANNAH Container ships at port: 9 Vessel wait time: 0 - 2 days Gate turn times: 38 - 55 minutes MIAMI Container ships at port: 1 Vessel wait time: 1 - 3 days Truck Lead Time: 1- 2 days
midwest & gulf CHICAGO Truck Lead Time: 1 - 3 days Chassis pool: normal DALLAS Truck Lead Time: 1 - 3 days Chassis pool: normal HOUSTON Container ships at port: 9 Vessel wait time: 0 - 1 days Gate turn times: 37 - 46 minutes Import dwell: 3.5 days europe ANTWERP Container ships near port: 18 Terminal yard utilization: 60 - 80% ROTTERDAM Container ships near port: 2 Terminal yard utilization: 60 - 65% HAMBURG Container ships near port: 21 Terminal yard utilization: 70 - 75%
latin america SANTOS Container ships at port: 10 Port status: open PANAMA Container ships at port: 10 Port status: open NAVEGANTES Container ships at port: 1 Port status: open PARANAGUA Container ships at port: 2 Port status: open MAZATLAN - SIN Container ships at port: 0 Port status: open VERACRUZ - VER Container ships at port: 2 Port status: open SOURCE: VESSELFINDER.COM Contact us at greenworldwide.com
china ocean cargo All space is getting tight due to a volume spike in preparation for the Chinese New Year peak season. Most factories will close the 1st week of February and some small factories may start the holiday in mid-January. The empty container supply is under high pressure. All main carriers have alerted shortage in next few weeks. Blank sailings are expected to increase in January and February, so plan to book at least 4 weeks prior to ETD. TIANJIN (BEIJING) Container ships at port: 12 Space to USWC: Space is getting tight Space to USEC: Space is tight SHANGHAI Container ships at port: 41 Space to USWC: Space is getting tight Space to USEC: Space is tight NINGBO Container ships at port: 51 Space to USWC: Space is getting tight Space to USEC: Space is tight YANTIAN Container ships at port: 7 Space to USWC: Space is getting tight Space to USEC: Space is tight SHENZHEN Container ships at port: 7 Space to USWC: Space is getting tight Space to USEC: Space is tight HONG KONG Container ships at port: 27 Space to USWC: Space is getting tight Space to USEC: Space is tight Contact us at greenworldwide.com
capacity lost to blank sailing 2024 WEEK 02 TRANSPACIFIC TO USA Port omission and blank sailing are both terms that refer to shipping schedule exceptions. Schedule exceptions take place when a ship is unable to keep to its original schedule due to unforeseen occurrences, such as poor weather, port congestion, and technical issues. BLANK SAILING Although ocean line service operators may decide to “blank” a particular port or region, when a partner in a Vessel Sharing Agreement announces a blank sailing, typically they are referring to an entire voyage being canceled. When this occurs, the voyage number that was published in the LTS or Coastal Schedule (CS) is preserved for internal cost allocation and reporting. All port calls that were planned on the journey are “blanked”. Contact Green freight experts at greenworldwide.com

Green Worldwide Shipping’s Freight Market Update covers port information, import and export news, vessel wait time and cargo vessels at major ports & more.  For continuous updates, make sure to check out our website at greenworldwide.com.

As Green continues to monitor international shipping news, stay up-to-date on supply chain disruptions by following us on Facebook, Instagram, and LinkedIn.

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