Americas
Panama Canal
Experiencing its driest October since 1950 impacting water levels at Lake Gatun—a vital source for the canal and half of Panama. Neo-Panamax draft restriction remains at 44 feet, daily vessel transits reduced to 31, and carriers impose 9-14 ton weight limits. Despite changes, container transit delays are minimal (0.1 days), making Panama Canal the fastest route from Asia to the U.S. East Coast and Gulf Coast. For shipments over 9 tons per 20’ or 16-17 tons for 40’, consider Suez service or, for time-sensitive needs, use the U.S. or Canadian West Coast and rail. CargoTrans monitors the situation and offers transload and intermodal services via the West Coast warehouse.
Sea Freight
Asian + Indian Subcontinent
Carriers will attempt to implement a Dec 1 GRI, however it will be unlikely that it will stick. A GRI from Dec 15 is more likely as we approach Lunar New Year.
Alert!
2/9-2/15 Lunar New Year / Spring Festival
PLEASE REACH OUT TO OUR TEAM TO PRE-BOOK SPACE AS CARRIERS REMOVE CAPACITY
Need Help Navigating the Current Freight Market? Contact our Procurement Team
In Other News…
- Mexico becomes our #1! – Clothes, iPhones and TVs made in China have long made the Asian giant the biggest supplier of foreign-made goods to American consumers.
– Read More -
China Is Making Too Much Stuff—and Other Countries Are Worried – Some Chinese factories, saddled with overcapacity in a struggling economy, are trying to export their way out of trouble and stoking new trade tensions in the process. Makers of electric vehicles, solar panels and other products are cutting prices and trying harder to muscle into overseas markets as they face weakened demand at home, upsetting competitors who see threats to their bottom lines.
– Read More -
Cargo theft on the rise – Freight theft continued to climb in the third quarter, posting a 59% increase over the same period last year to 692 events across the United States and Canada that totaled over $31.1 million in shipments, according to stats from CargoNet.
– Read More - The most expensive reservation this holiday is at the Panama Canal – Major shipping lines are scrambling and looking for ways to deal with the growing backlogs at the Panama Canal. The prospects of a growing wait reportedly prompted one company to bid a record $4 million for one of the open slots bringing their anticipated total transit costs to $4.5 million and still they have to wait another week to get their empty gas carrier on its way.
– Read More
Questions? All you have to do is contact us.
