West Coast Port Surcharge Flip Flopping Continues
Late last week, several major ocean carriers announced that they were postponing congestion surcharges on shipments going into and out of West Coast ports. Beginning Wednesday of last week, carriers including Evergreen, Maersk, OOCL, MOL, and Yang Ming, among others, announced that they were again delaying their plans to impose surcharges until further notice.
Congestion levels remain high on the West Coast and the situation continues to be fluid. Importers and exporters are encouraged to keep communication lines open with their carriers and service providers for the latest on surcharge activity and shipment status.
For up to date information on this issue please click here.
Over the Road – Lower Fuel Prices, Capacity Remains Tight
In the week of November 24th, US diesel no. 2 retail prices continued to be low, averaging $3.628 per gallon (read more). According to DAT, heightened demand and poor weather in the week ending November 22nd versus the prior week drove up rates for van and reefer +$0.01 and +$0.03 per mile, respectively, while flatbed rates fell -$0.02, reflecting seasonal changes. Nevertheless, strong demand for flatbed capacity drove load-to-truck ratios up +5.9% versus the prior week , while van and reefer , which had both increased demand and decreased capacity, saw load-to –truck ratios spike +21% for van and +28% for reefer.