Imports from Asia are at an all-time low. Dropping an average of 31.3 percent year over year. Retailers are forecasting less imports to deal with the inventory overhang. February’s imports were the lowest since 869,091 TEU in March 2020, according to PIERS, a sister product of the Journal of Commerce within S&P Global. Retailers hope the decline will taper at the end of August as shopping season peaks.
Source: JOC
More wrinkles will shape June - please note the attached announcements in terms of potential July increases as well. We are facing multiple challenges to get things done properly so we appreciate your patience and support. Details below!
Read More"If it was easy everyone would do it" - waves of adversity continue to arrive and seems the entire year has had one thing or another to manage through (Red Sea etc.). On that note, thanks to everyone for collaborating with us through the chaos and we know you are all having to work extra hard just like we are......Just don't forget that working together we will be better able to manage the cargo and crap. We are here for you so do not hesitate to reach out even just for a chat.
Read MoreUnwelcome news first in terms of rate increases and service disruptions in the far east trade - similar to previous times carriers continue to "right size" the trade and push the supply/demand ratio into one that favors them at least in the short term.
Read MoreBad weather in Asia, sailing schedules and rates, port and, Ocean Council updates
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