New year, new vibe at TPM 2023

TPM (Trans-Pacific Maritime Conference) wrapped up in Long Beach this week, highlighting an environment drastically changed since last year’s installment. A most visible cue was the lack of a vessel queue in San Pedro Bay that featured so prominently in 2022. Shipper-Carrier power dynamics have also reversed heading into the TPEB contract season as rates continue to fall amidst carriers’ efforts to control capacity. The ongoing ILWU-PMA contract renegotiation was also front and center though both parties expressed hope of “reaching a deal soon”. Broader, strategic dynamics were also front and center from logistics tech to supply chain decarbonization to “slowbalisation”.