Market Trends

Transpacific surge of shipping volumes to US has dissipated from China and the greater Far East ports to the US/Canada West Coast ports as the chance to arrive before the expected July 8 US tariff increases are in place. Of course, deadlines can be extended again, or tentative agreements may be made in the next two weeks. Odds seem to be that some exporting countries will be hit with the new US tariffs. China deadline is August 12 when the current temporary agreement is set to expire, if not extended again or fully agreed to.

Global capacity overall looks strong. This was demonstrated by the quick reaction by carriers to the surge from China and the Far East to US markets in May and June. MSC was particularly quick with extra loaders being independent of alliance entanglements. Smaller Intra-Asia carriers also jumped in the Transpac to benefit from the high rates.