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The ocean freight increases implemented on Asia-US trades on May 1 have held at higher levels. Vessels are still full through most of May, and indications for June appear strong. Ocean carriers are announcing another round of rate increases for May 15; the initial amounts are around $1000 per FEU higher than current spot rates. Final levels for the second half of May will not be known until next week.

The window for annual fixed-rate contract negotiations is closing quickly, with the spot market surging and the gap between fixed and short-term freight rates growing.

There is growing concern about a potential Canada rail labor strike that could begin on May 22. Any strike or labor slowdown on the rail would impact US cargo since much of the US’s inland freight moves via Canada ports on the rail. It would also put more pressure on US ports, especially West Coast ports that are already experiencing some levels of congestion and rail delays due to strong volumes. Shippers utilizing rail connections should expect delays, particularly for West Coast routings.

 

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Your CVI team is here to assist you through these current market challenges. Ocean freight, air freight, domestic road/rail, and Customs Compliance – count on our dedicated professionals to care for you and your supply chain. Call us and let us show you what we can do!

 

Rachel Shames

VP, Pricing & Procurement

CV International, Inc.

 

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Rachel serves as Vice President, Pricing and Procurement for CVI. Her responsibilities include vendor selection, contract management and negotiation, transportation pricing, FMC compliance, and international agent network management.

Rachel began her career in international shipping with CMA-CGM America. She joined CVI in 2011, gaining experience in various departments with a focus on inside sales and marketing for the company. In 2014, Rachel assumed the role of Manager, Transportation, working on service procurement and development of client proposals. She has served in her current position since 2018.

A native of Norfolk, Virginia, Rachel earned her bachelor’s degree from the University of Michigan in 2005. She holds a Master of Business Administration with a concentration in Maritime and Supply Chain Management from Old Dominion University.

– Rachel Shames, VP, Pricing & Procurement, CVI
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