Fourth Quarter Updates

Updates

Of course plenty is still up in the air but hopefully this is the quarter where we at least get some clarity on a few key issues (not the least of which, our next President) – which will shape policies and adjustments for some time to come.
Well documented over these last months is the continued operational breakdowns throughout the supply chain - from a lack of equipment, vessel space or consistent transit times to significant port congestion, lack of chassis and truck shortage.


According to the various carriers we have spoken to, they don’t expect this to change anytime soon. Attached a few fun facts and validation from various sources that the pain you are experiencing is not all in your head or “fake news”.

We should all continue to expect a bumpy ride.


Ocean Freight Rates

  • Up until today a real mixed bag carrier by carrier, no carriers are announcing rates but instead quietly adjusting according to their specific market intention
  • Nov 1. HPL and ONE intend to impose GRI at around $400 but no official notice or update is published so far.
  • Wan Hai increase $150 from Vietnam
  • COSCO increases 45’ rates by $300


Space

Demand remains strong for all lanes especially for EPRC and Vietnam. Most of the vessels are fully booked until mid Nov in these regions.


  • Vietnam, Ningbo, Shanghai and Busan are experiencing heavy port congestion with significant vessel delays.
  • Feeder connection in Tianjin is still affected by the port congestion in Busan.
  • Vessel delay in Ningbo and Tianjin is up to 5 days and 14 days respectively and about 1-2 days in other areas.
  • Current space situation for different China origins can be found in the spreadsheet attached.

Equipment Status

  • Most of the China origins are encountering equipment shortage for 40HQ and 40GP especially in SPRC and Vietnam.
  • Equipment supply for certain carriers in some origin become critical and carriers started limiting the space released for certain equipment.
  • Local equipment situation can be found in the Space situation tab as attached.

News

Featured News at a Glance

Pierpass Increases at Los Angeles and Long Beach Ports

The West Coast MTO Agreement (WCMTOA) announced that the Traffic Mitigation Fee (TMF) at the Ports of Los Angeles and Long Beach will be temporarily adjusted from December 1, 2021, through January 31, 2022, subject to regulatory clearance by the Federal Maritime Commission

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[Update 1.17.22]Container Dwell Fees set to begin... Jan 21, 2022

The Ports of Long Beach and Los Angeles have announced and made effective a CONTAINER EXCESS DWELL FEE / CONGESTION DWELL FEE for which the ports will charge ocean carriers for each container that exceeds specific dwell time.

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​What's to follow now the Suez Canal blockage is cleared?

The aftermath of the Suez Canal. What to expect? what are the coming challenges?

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65 Ships Anchored in LA and LB Ports

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