E-Freight Solutions’ Post

The collapse of the Francis Scott Key Bridge in Baltimore has caused supply chain disruption on the US East Coast but it has not triggered an increase in ocean freight container shipping rates, according to the latest Xeneta data. Average spot rates from the Far East into the US North East Coast (including Baltimore) have fallen slightly (-1%) since the bridge collapse on 26 March to stand at USD 5421 per FEU (40ft shipping container). When including other US East Coast ports such as New York / New Jersey, rates from the Far East have decreased by 3% in the same period. Peter Sand, Xeneta Chief Analyst, said: “Spot rates have not reacted but that doesn’t mean shippers with cargo heading to Baltimore are not affected – on the contrary they are seeing containers arriving at ports they were not expecting. “The majority of containers will now be handled at New York / New Jersey because many of the ships originally bound for Baltimore would have been stopping there anyway, which is perhaps why we haven’t seen an upwards impact on rates." For more data and insight on this story read our latest press release. #oceanfreight #containershipping #supplychain https://lnkd.in/eY8GNcVr

Ocean freight rates steady despite Baltimore bridge collapse. The March 26 collapse of the Francis Scott Key Bridge in Baltimore has significantly disrupted U.S. East Coast supply chains. However, ocean freight container shipping rates have remained relatively stable, according to Xeneta, an ocean freight rate benchmarking and intelligence platform. Xeneta’s data reveals that average spot rates from the Far East to the East Coast, including Baltimore, have fallen by 1% since the bridge collapse, standing at $5,421 per forty-foot equivalent unit. When considering other U.S. East Coast ports, such as New York/New Jersey, rates from the Far East have decreased by 3% in the same period. Similarly, average spot rates from Northern Europe to the East Coast have fallen by 8% to $2,357 per FEU, with a 4% decrease when including other U.S. East Coast ports. “Spot rates have not reacted but that doesn’t mean shippers with cargo heading to Baltimore are not affected,” said Peter Sand, chief analyst at Xeneta, in a blog post. “On the contrary they are seeing containers arriving at ports they were not expecting.” The majority of containers will now be handled at New York/New Jersey, Sand said, as many ships originally bound for Baltimore would have been stopping there anyway. This could be a reason why rates have not significantly increased. #freightrates #containershipping #imports #Baltimore #oceanfreight https://lnkd.in/gi-DFR-5

Interesting article and analysis from Xeneta. What are your thoughts , have you seen any impact on your contracted rates ? I believe OCEAN transport might not be so affected with the use of alternative major ports such as NY/NJ for East Coast. Perhaps, we might see the impact on future weeks more on the LAND transportation bottlenecks at port terminals with the increased of containers to these 2 ports in order to compensate for Baltimore volume. It’s worth to keep a track on the Port to door rates to compare the trend vs port to port destination 📈 #oceanfreight #USEC #rateanalysis #shippers

Despite the recent collapse of the #FrancisScottKeyBridge causing disruptions, ocean freight rates to the East Coast have remained stable, showcasing the resilience of the shipping industry: https://bit.ly/4aKOWyo In light of the challenges posed by the #Baltimore bridge collapse and subsequent impacts on supply chains, VIZION plays a crucial role. By providing real-time tracking and visibility into container movements, our technology can help businesses navigate disruptions more effectively. Our platform enables users to monitor cargo in transit, anticipate delays, and adjust logistics plans accordingly, ensuring minimal impact on delivery schedules and operational efficiency. Learn more at https://bit.ly/4awxjCM.

From Sea to Shining Sea and everywhere in between. COGISTICS Transportation has your transport needs covered. Reach out to us to see how we can assist you with your import and export ocean and air shipments. Subscribe to our newsletter and follow us on LinkedIn for the latest happenings.

The West Coast is ready to see freight come back. This could be one of the many signs pointing in that direction. With the challenges of AB5 and the new CARB regulations, will capacity once again be an issue? There has been a large exit of drivers in California. The companies that are hanging on are sure to enjoy solid rates and steady volumes once again.

Despite the recent collapse of the #FrancisScottKeyBridge causing disruptions, ocean freight rates to the East Coast have remained stable, showcasing the resilience of the shipping industry: https://bit.ly/43TZw40 In light of the challenges posed by the #Baltimore bridge collapse and subsequent impacts on supply chains, Vizion plays a crucial role. By providing real-time tracking and visibility into container movements, our technology can help businesses navigate disruptions more effectively. Our platform enables users to monitor cargo in transit, anticipate delays, and adjust logistics plans accordingly, ensuring minimal impact on delivery schedules and operational efficiency. Learn more at https://bit.ly/3Jb5SCG.

The West Coast is ready to see freight come back. This could be one of the many signs pointing in that direction. With the challenges of AB5 and the new CARB regulations, will capacity once again be an issue? There has been a large exit of drivers in California. The companies that are hanging on are sure to enjoy solid rates and steady volumes once again.

"For the moment, the container market seems fairly unconstrained in terms of how high or how much shippers have seemed to be willing to spend.” MSI's Daniel Richards tells Seatrade Maritime how a combination of factors has driven container freight and charter rates by taking effective supply out of the system. "I think this really points to the final driver, though, which is simply that freight markets now just seem to be far more volatile than they were in the period before the pandemic," he explains. #containers #supplychain #RedSea #geopolitics #globaltrade #shipping Click to listen here: https://lnkd.in/eYqjb8yS?

Challenging times across all modes It was another busy week for news affecting the international freight and logistics industry and the coming week will be dominated by the US election and the prospect of Donald Trump winning ought to put the container shipping industry on alert says Drewry Shipping Consultants. It described a potential second term for Trump as a “destructive risk to the container market”, in light of his love of the word tariff, stated intention to introduce a new round, while those he introduced in 2018 continue to have an effect. https://lnkd.in/e9fXWpTH Meanwhile, viewers that ship containers through US East and Gulf Coast ports will be relieved by the news that the International Longshoremen’s Association (ILA) and United States Maritime Alliance (USMX) are resuming Master Contract discussions this month, “to discuss all outstanding issues to reach a new agreement.” This comes on the heels of the parties agreeing to an extension of the current Master Contract until January 15, 2025, which they said is contingent on bargaining on all open issues. Readers will be hoping both sides come to terms for a new Master Contract Proposal that can be approved, and ratified. https://lnkd.in/eHmeA9u4 Many businesses are planning for their spring merchandise to arrive early in case no agreement is reached before the 15 January 2025 deadline, with all the consequences that might bring, by moving product much earlier than in previous years. The GCaptain website carried a Reuters report that U.S. shippers are steering clear of East and Gulf Coast ports such is the worry about another potential strike in January, and moving cargo via West Coast ports instead. https://lnkd.in/ecYhauT7 At this time last year many container shipping analysts were talking in apocalyptic terms about the market, and this year a similar narrative is emerging. That's the verdict of an article on the Seatrade Maritime News website. The author writes that as with last year, market fundamentals point to a major collapse in freight rates as the equilibrium in the supply and demand equation is tilted firmly in favour of shippers, if one takes just a superficial glance at the figures. However it adds that the forecasts of doom do come with the proviso that no unexpected and calamitous event disrupts the market again. The full article, which is well worth reading, can be seen in the panel below. https://lnkd.in/ecpYGNq2 Details about our freight & logistics services can be seen at www.ufreight.com #oceanfreight #shipping #containershipping #airfreight #trade #aircargo #logistics