October 2023 Local and Industry Updates

October 2023 Local and Industry Updates

October 2023

Local Updates

  • - 20’ST demand continues to be high due to grain season
  • - Supply of 40’HC and 40’ST remains tight; increasing street turns would help to relieve pressure. Trakking’s Street Turn module ensures less than 5-minute response time for street turn requests, learn more here.
  • - As shipping lines adjust their fleets and services to stay competitive under today’s market conditions, vessel space and empty container availability are anticipated to be tight, causing challenges for exports.

Industry News

Retailers pivot in fast-moving trans-Pacific as carriers accelerate blank sailings

Blank sailings on the eastbound trans-Pacific route are accelerating this month as carriers aim to stabilize spot rates amid low growth expectations. Around 22% of trans-Pacific capacity has been cut through blank sailings in October, up from 11.5% in September and 13.1% in August. While carriers have announced capacity reductions of 6.4% in November and 1.7% in December, these numbers are expected to increase as more blanks are declared.

Retailers, forwarders, and logistics providers are grappling with scheduling issues and delays due to these disruptions, leading to rising spot rates and supply chain challenges.The net result is that there will be a lack of equipment in Canada over the next few months.

How will you be dealing with this for your exports? Which carriers? TSC Trakking has helped various truckers with some of these equipment issues. For more information, please contact TSC Trakking to help your fleet be more efficient. Reach out to us today!