Local Updates: Export Rates Drop, West Coast 20' Shortages, and Eastern Rail Depots operating 24/7
Shipping volumes continue to be low. With poor Q1 earnings, shipping lines continue to increase blank sailings. Export rates have fallen drastically, to the point that sometimes drayage rates are higher than ocean rates.
There are a shortage of 20’ containers on the West Coast. Although there are currently enough 40’ containers, our contacts at the shipping lines are predicting that there may be a shortage of 40’ containers at the end of June.
Carriers continue to move empty containers out of the East, to the Canadian ports. Intermodal rail ramps in the East has been operating 24 hours a day. As shippers and truckers try to return as many empty containers as possible, it is causing some congestion at the rail yards.