Aug 04

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FreightWaves Market Updates brought to you by Port X Logistics

4 minute read
FreightWaves Market Updates brought to you by Port X Logistics Featured Image

The News

We will start by mentioning some of the ports that will see an increase of containers in the next week.  The HOT ports so to say.

  • Long Beach will be seeing an uptick of containers over the next week.  What will the throughput look like?  Will dwell times be even more extended to get to the rail?  The UP has actually embargoed some international containers into Kansas City and instructed clients to transload.

  • Houston remains a hot market.  More containers expected next week and there are already 25+ vessels at anchor.

  • Charleston sees a bounce in volume next week, but has been operating relatively well.  It seems like a seesaw between CHS and SAV.  Right now, all the vessels are in SAV.

  • NY/NJ sees a bounce next week which they don’t really need.  The empty situation there is terrible.  Its extremely hard to get empty termination slots.  The one SSL to watch out for is Hapag.  Finding an empty return location and appointment is like finding a unicorn.  Just be aware of potential per diem or the fact you may have to fight the per diem.

  • Norfolk continues to have strong volumes next week.

Who is seeing a slight slow down in volume coming in next week?

  • Oakland thank goodness.  What a mess it has been up there.  Labor unrest at the port and drivers protesting the AB5 legislation.  They need less containers so the mess on hand can be cleaned up.

  • Baltimore sees a bit of a dip as well.  This will hopefully help them manage some empties.  Chassis are hard to come by right now.

  • Savannah hasless vessel arrivals, BUT they have 49 vessels at anchor to work through.  Not as many scheduled arrivals, but a big back log to work through.

What else do you need to know?

  • Dwell times out of Cali continue to be extended and as mentioned above some rails have even embargoed Inland Point Intermodal for international containers and recommended clients to TRANSLOAD.

  • Again, I want to reiterate how bad the empty returns are in NY/NJ especially Hapag.

  • Most inland rail hubs – Chicago, Memphis, and Kansas City have major chassis shortages.  Many boxes are grounded.  Once they are grounded recovering them is extremely difficult and who knows how long it will take.  Will they waive yard storage?  Again, if you have any sort of time definite or production cargo, TRANSLOADING is the safest bet.

  • 20’ chassis and specifically 20’ triaxles are no where to be found.  It may look good on your ocean rate to put 44,000 in a 20’ container, but good luck getting it delivered.  From our perspective pay for the 40’, reduce your demurrage, and get the product delivered.

Check out the Sonar Images below for a more in depth look.

Sonar Images