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July 3, 2023

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July 3, 2023 | Journal of Commerce 33 www.joc.com Special Report Latin America Trade and Logistics vessels two weeks in advance, with space available, for East Coast South America-East Coast North America." Maria Luisa Gonçalves, ocean export pricing leader at Royal Cargo do Brazil, said container rate levels to some destinations on the US East Coast are even lower, at around $1,100 per FEU. Gonçalves pointed out trade between Latin America and North America can be constrained by a variety of factors, "such as trade agreements, tariff barriers, currency fluctuations, trade regulations and government policies." Illustrating the impact of some of these issues, Hapag-Lloyd and Pacific International Lines in May imposed new rules around payment for ship - ments to and from Argentina as the country imposed transfer controls on foreign currency movements to battle inflation that reached 114%. Both carriers said freight ship- ments would only be accepted on a prepaid basis either at the foreign port of loading or destination. "We will not be able to accept shipments with freight payments made in Argentina," PIL said in a customer advisory on May 29. Shiing south Although the north-south con- tainer trade remains in the doldrums, there are fundamental changes affect- ing ports, particularly on the US East Coast, amid changing trade patterns. Ports like Miami and Savannah have seen continued growth in cargo volumes from the Latin America trades — fueled in part by delays and labor disruption on the West Coast — resulting in the launch of new services and calls to those ports, port executives said. "During the major congestion problems that impacted shipping on the West Coast, customers that used to ship to Los Angeles–Long Beach and then rail the imports to Miami "Volumes should start to increase from September or October."

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