IHSA Shippers Association

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Spot Rates Tick Upward

Carriers have tried for months to increase spot rates on containers shipping from Asia to the U.S. Low consumer demand has rendered those attempts futile until now. Carriers believe spot rates have finally hit bottom. This optimism could stem from the uptick in rates the market experienced in July. For the first time this year, spot rates have accepted a meaningful increase…

Spot Rates Remain Depressed

Carriers continue to struggle finding sufficient volume to fill their ships on the Asia to U.S. trade lane. Demand started to soften last summer and has never fully recovered. While volume is expected to increase slightly heading into peak season, carriers are faced with a dilemma on how to handle rates. Carriers have been trying to increase spot rates for the last several…

Peak Shipping Season Rebound Unlikely

Ocean carriers are coming to the realization that the upcoming peak shipping season will likely be a bust. Several carriers have been predicting that the Asia to U.S. market would see a rebound in container shipping during the second half of 2023. It is becoming clear now that the so-called rebound is not going to happen. Industry experts have also backed off previous…

Transpacific Contract Negotiations Finalized

The majority of ocean contracts covering containers moving between Asia and the United States have been finalized. The contracts being signed contain rates that are substantially lower than the rates that were finalized in April 2022. The previous two contract cycles saw spot rates skyrocket to record high levels before finally subsiding in the fall of 2022. The new contract…

West Coast Ports Still Operating Without a Contract

Contract negotiations between the Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union (ILWU) ports remain at a standstill. After 10 months of negotiations, there has been very little progress in resolving key issues such as automation and wages. The PMA recently called out the ILWU for intentional work slowdowns causing delays at the ports…

New Container Vessels Pose a Problem for the Carriers

Ocean carriers have a problem on their hands. Aside from a lackluster Asia to U.S. shipping market, carriers are about to be inundated with brand new containerships. This couldn’t happen at a worse time for the carriers. They are already being forced to slash freight rates to unprofitable levels in an effort to fill container vessels already deployed. Adding additional capacity…

Asia to U.S. Contract Negotiations Begin

Shippers have begun the annual ritual better known as contract negotiations. There is one major difference in this year’s negotiations compared to the last two years. Shippers head into the negotiations with the leverage. The current Asia to U.S. market is weak. That point cannot be disputed. Spot rates have plummeted and plenty of space is available to shippers. Once the…

Take Control of Your Supply Chain Challenges

Supply chain challenges are expected to continue in 2023. Are you aware that IHA provides its members a tool to address these challenges? The tool, made available only to IHA members, is your industry shippers association otherwise known as International Housewares Shippers Association (IHSA). Carriers always recognize leverage. Shippers with the most leverage consistently…

Will the Carriers Avoid a Rate War?

Container freight rates from Asia to the U.S. continue to decline. Rates have fallen to levels that seemed unimaginable only a year ago. The average spot rate to move a container from China to Los Angeles in December 2021 was $15,000. The cost to move that same container today is $1,500. The carriers, who declared that rate wars were a thing of the past, seem powerless to stop…