Insights

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Transpacific Eastbound Market Update – Week 4, 2020

Ocean freight rates shatter records as premiums to secure capacity and equipment continue to rise and the Chinese New Year draws closer. Bottlenecks are also spreading with inland rail hubs facing chassis shortages in locations such as Chicago and Memphis. Congestion at the majority of East Coast, Gulf and Pacific…

Jan 22, 2021

International Airfreight Market Update – Week 4, 2021

Transpacific airfreight rates dropped nearly $5.00 per KG coming into 2021, falling from $8.00/kg to below $4.00. This drop did not last long. With three weeks still remaining until the start of the Chinese New Year holiday, rates have jumped back up by 20-30% this week. Though the west coast…

Jan 18, 2021

Transpacific Westbound Market Update – Week 3, 2021

Strong import cargo demand continues to create numerous challenges for US exporters. We continue to experience lack of vessel space, little to no available equipment, terminal congestion, consistent booking rolling and continuously changing cut off dates. This situation is expected to continue due to the changing purchasing habits caused by…

Jan 15, 2021

Market Letters

CHB Update – Week 2, 2021

Jan 07, 2021
The Generalized System of Preferences (GSP), which allowed for duty free treatment of goods from specific countries, expired at the end of 2020. This is not the first lapse. In the past (after the agreement is renewed), Post Summary Corrections could be filed on entries in order to obtain a duty refund for those goods which entered the US during the gap period. Importers who utilize GSP should continue to claim it on their US Customs entries to ensure they have good records, should refunds be available again.
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Market Letters

Transpacific Eastbound Market Update – Week 2, 2021

Jan 07, 2021
We may have placed our 2021 calendars on the wall, however the 2020 hangover remains as capacity, equipment, port congestion and extremely high freight rates continue to carry over into the new year. The majority of lanes are booked solid right through January and any new bookings with departure dates prior to Chinese New Year are requiring premium capacity and equipment charges. Extra-loaders added in December have provided much needed capacity in the market.
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Market Letters

Transpacific Eastbound Market Update – Week 51, 2020

Dec 18, 2020
Import volumes remain very strong and this trend is expected to continue through this coming February’s Chinese New Year. The situation with capacity and equipment is still quite serious and the lack of equipment is causing cancellations and rolled bookings at many origin ports. There are over 20 container vessels currently waiting to berth in Southern California. In developing news, the BNSF is reporting rail car shortages which could quickly develop into lengthy rail delays for inland destinations.
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