As August 1st approaches, it’s clear that this year’s peak season never truly arrived. Despite ocean carriers’ attempts to raise freight rates through a General Rate Increase (GRI), market conditions simply wouldn’t cooperate. Soft demand, shifting tariff timelines, and volatile policy swings under the so-called “TACO” strategy have upended traditional shipping cycles. Rates for August are now falling, not rising, and with booking volumes down … Read More
Freight Flux: Adapting to Price Drops and Uncertainties
As we move through the latter half of 2024, the global freight market shows signs of significant shifts. For businesses relying on international shipping, staying informed on these changes is crucial for effective supply chain management. Here’s a closer look at the latest developments and their potential impact. Current Market Trends: Freight Rates Decline The freight market remains in a clear downward trend. Notably, major … Read More
June 1st GRI: Secure Your Space Now
As June approaches, the logistics industry is bracing for another General Rate Increase (GRI) set to take effect on June 1st. In addition to this upcoming rate hike, the current landscape is characterized by equipment shortages, blank sailings, and potential rail strikes in Canada, all of which have made space availability, rather than rates, the primary concern for shippers. Equipment Shortage: The ongoing global shortage … Read More