Ocean Freight Market
Capacity & Demand: Capacity remains elevated, with full deployment across main Trans-Pacific strings and extra loaders to the West Coast still prevalent as carriers seek to capture the final wave of demand. Demand has softened following Golden Week, particularly to the East Coast, creating increasing pressure on available capacity.
Pricing: Trans-Pacific spot freight rates remain elevated but are facing growing downward pressure, particularly to the East Coast. While rates have not yet materially declined, softer demand and continued capacity availability are increasing the likelihood of rate erosion in the coming weeks.
Trans-Pac General Rate Increases (GRI):
October 15 GRI: Partially implemented
November 1 GRI: Announced; partial implementation expected
November 15 GRI: Announced
Airfreight Market
Capacity & Demand: Asia-Pacific air volumes to the U.S. rose 10% week-over-week and are up 14% year-over-year, led by AI and tech-related cargo. Capacity out of Asia increased 6% as freighters returned after Golden Week, but space is expected to tighten into November as holiday volumes build and large AI/tech shippers have yet to lock in capacity. General cargo is most likely to be squeezed, so early bookings are recommended for time-sensitive freight.
Pricing: Asia-to-U.S. air rates rose 6% week-over-week and are up 41% year-over-year, with China-to-U.S. spot rates averaging $6.05/kg in September. Jet fuel is up 112% year-over-year, adding pressure on all-in costs. Rates are expected to keep rising through November.
The U.S. Market
USTR Port Fees: Suspension of port fees on China-linked vessels extended through January 9, 2027 (announced October 23).
Vincent Thomas Bridge: Closes November 7 for approximately 16 months. LA/LB terminals remain open, but expect localized drayage delays or added costs depending on terminal and delivery location.
BNSF Southwest: New Mexico flooding has disrupted the Southern Transcon (Gallup and El Paso Subdivisions). Expect residual delays, nonstandard routings and longer transit times as service recovers.
USWC: LA import volumes remain elevated (139,609 TEU week of October 25, up 52% YoY). Vessels are berthing on arrival, but truck dwell has risen to 3.7 days and 16% of loaded imports have been on terminal 13+ days.
USEC: NY/NJ vessel waits are minimal (under 0.1 days). Import dwell is about 3 days for truck and 2 days for rail, with some gate congestion reported at PNCT.
USMW: Chicago rail ramps are fluid with about 2-day dwell and no pickup delays. U.S. intermodal volume is up 11.3% YoY (week ending October 24).
USSW: Port Houston is operating normally with no vessels at anchor and import dwell averaging 2.4 days. September volume was up 11% YoY.
Janel Group continues to closely monitor the market and port situation. Updates will be provided as they become available. To secure a booking or explore additional options for your supplier, please reach out to your Janel Group Representative.
Vice President of Commercial Strategy
Sr. Pricing & Commercial Support Analyst