US Logistics Update [Sep 5, 2026]-English

The U.S. Department of Labor’s Bureau of Labor Statistics announced on the 5th that nonfarm payrolls increased by 162,000 in August compared to the previous month. This figure significantly exceeded market expectations of 53,000 and marked the largest increase in the past five months. By industry, the food service and bar sector recorded the largest employment gain with an increase of 59,000, while local government education also rose by 42,000. Manufacturing increased by 16,000, and the healthcare sector by 13,000. In contrast, the information technology (IT) sector saw a decrease of 23,000 jobs. The Department of Labor also revised the previously released employment figures for June and July: July’s employment, which had initially been reported as a decline, was revised upward to an increase of 21,000, and June’s figure was revised to an increase of 31,000. Consequently, the total employment figures for June and July were revised upward by 55,000 compared to the original announcements. The average hourly wage in August was $37.75, up 0.3% from the previous month and 3.1% from the same month last year. The unemployment rate remained unchanged from the previous month at 4.1%. Market reactions to the release of these employment statistics were mixed. While some speculate that the Federal Reserve will raise interest rates in response to the better-than-expected employment figures, President Trump is pressuring the Fed to cut rates, citing the strong economic indicators. Meanwhile, market distrust of inaccurate and erratic labor statistics is growing, as is skepticism regarding the Fed’s decisions based on such data.

In the “Beige Book”—an economic trends report released by the Fed on the 2nd—the central bank stated, “Ten of the 12 Federal Reserve Bank districts reported slight to moderate growth, while two reported no change,” assessing that U.S. economic activity has been expanding at a moderate pace since early July and that inflation has generally risen at a moderate rate. The Fed also noted that while demand from data centers and the defense sector supported manufacturing activity, uncertainty surrounding high energy prices and the war in Iran has increased. Regarding employment and inflation—the Fed’s primary concerns—it stated that employment saw “a very modest increase” and that inflation rose “moderately.” It further explained, “While the overall outlook for the coming months was positive, sentiment varied by sector,” adding that “business representatives reported increased uncertainty surrounding the impact of high energy prices, policy, and international conflicts.” The Beige Book is an economic trends report compiled by the 12 Federal Reserve Banks, which gather recent economic data by consulting with banks, businesses, and experts in their respective regions. It is typically released two weeks before the Federal Open Market Committee (FOMC) meeting, where monetary policy is decided. Experts analyze that this Beige Book does not seem to tip the scales in either direction regarding the September interest rate decision. In any case, according to this report, manufacturing activity increased in most regions, with demand for defense and data center-related orders standing out in particular; both positive and negative impacts of artificial intelligence (AI) on labor demand were also reported. In the consumer sector, spending on high-end products remained robust, while consumers’ price sensitivity appeared to have increased. Currently, the market views the likelihood of an interest rate hike as over 60% due to favorable employment indicators. 

The U.S. Department of Commerce announced that the U.S. trade deficit in goods and services for July totaled $88.6 billion, marking the largest deficit since March 2025. Imports rose 2.8% from the previous month to $399.3 billion, while exports fell 2.1% to $310.7 billion, causing the deficit to widen significantly. By product category, imports of capital goods—including computers and peripherals, semiconductors, and telecommunications equipment—rose by 11.4%. Bloomberg attributed this to a surge in demand for advanced equipment from U.S. companies building global AI infrastructure. Meanwhile, the trade deficits by trading partner in July were as follows: Mexico ($27.5 billion), Vietnam ($23.3 billion), Taiwan ($18.1 billion), China ($15.2 billion), South Korea ($10.4 billion), and the EU ($8.9 billion). President Trump threatened to halt trade with countries running a trade deficit if the Federal Reserve does not cut interest rates. Although this threat seems out of the blue and is unlikely to be carried out, given that President Trump’s stance has been reflected in policy in some form, it cannot be dismissed as mere bluster.

North American Vessel Dwell Times  

TPEB (Trans-Pacific Eastbound) Trends

First, regarding carrier capacity, low single-digit blank sailings are expected throughout September, indicating that carriers are maintaining maximum capacity. However, during the week of October 5, the blank sailing rate is projected to rise to 8% as carriers adjust capacity ahead of the Chinese National Day holiday. A more significant increase in blank sailings is expected after the holiday. Additionally, congestion at the ports of Shanghai and Ningbo persists due to recurring typhoons and other factors, leading to schedule delays and reduced supply. At the Panama Canal, the reduction in daily transit slots took effect as scheduled on September 3, and an additional reduction is planned for September 15 due to the ongoing drought. However, the ship draft restriction has been postponed to October 1, which will partially alleviate supply constraints in the short term; nevertheless, the overall operational situation continues to deteriorate. Due to operational restrictions at the Panama Canal, there is a clear trend toward shifting eastbound all-water services to land and rail-linked services such as the Mini Land Bridge, which is increasing pressure on rail connections to Los Angeles and Long Beach, leading to longer dwell times and increased congestion. Consequently, both shipping rates and trucking rates are on a sustained upward trend. In conclusion, despite shipping lines maximizing their supply, upward pressure on freight rates persists due to a combination of stable demand, departure delays caused by typhoons, and Panama Canal restrictions.

Results of the U.S. International Roadcheck

According to the results of the International Roadcheck conducted in May 2026, out of a total of 53,271 inspections in the United States and Canada, 3,969 drivers were placed out of service (OOS), confirming the effectiveness of the U.S. government’s regulatory policies targeting trucking companies and drivers. The number of violations this year increased by 18.8% compared to the previous year, and 7.5% of all drivers inspected were placed out of service (OOS). The main reasons for violations included failure to carry a medical certificate (1,072 drivers), violations of hours-of-service (HOS) regulations (929 drivers), failure to hold a commercial driver’s license (CDL) (620 drivers), and insufficient English proficiency (361 drivers). In particular, the number of driving suspensions due to insufficient English proficiency has surged recently, reaching 16,046 by July 2026—a 46% increase from the previous year. The number of drivers without a Commercial Driver’s License (CDL) decreased from 688 in 2024 and 810 in 2025 to 620 in 2026, but remains at a serious level. Currently, the U.S. Department of Transportation and the Department of Homeland Security (DHS) are stepping up enforcement against illegal drivers and those without licenses through joint operations such as “Operation Highway Shield.” The Secretary of Transportation has likened the trucking industry to the “Wild West” and vowed to eradicate illegal activities. The trucking industry is expected to face an even more severe driver shortage in the future.

Samsung Files $186 Million Claim Against CMA CGM with the FMC

Samsung Electronics’ U.S. subsidiary has filed an official complaint with the U.S. Federal Maritime Commission (FMC) against the French shipping company CMA CGM. Samsung alleges that CMA CGM imposed excessive demurrage and detention charges despite failing to fulfill its contractual obligation for inland transportation (store-door move) during the pandemic from 2020 to 2022. Samsung claims that CMA CGM billed for more than 120,000 instances of delays in container shipments and incurred additional costs by effectively holding cargo “hostage” at ports. Samsung is seeking at least $186 million in damages, which includes demurrage, detention charges, additional transportation costs, lost profits, and legal fees. This filing marks Samsung’s seventh complaint with the FMC; previously, it secured partial victories and settlements against ZIM and SM Line. Industry attention is now focused on what decision the FMC will make in the future.

Section 301 “Excessive Production” Investigation Procedures and Outlook

Currently, the USTR (Office of the United States Trade Representative) has not announced a schedule for releasing the results of the Section 301 investigation or for implementing measures. Therefore, there is no publicly available information that would allow for predicting the timing of the final announcement. Although the future procedures regarding the public comment period have not yet been finalized, based on precedents from recent Section 301 investigations, it is understood that a report and a “Notice of Proposed Actions” are likely to be issued prior to the final measures. In fact, in the 2026 Section 301 investigation regarding forced labor, the USTR published a report and a “Notice of Proposed Actions” prior to announcing the final measures, and subsequently conducted a separate public comment and public hearing process. While it remains to be seen whether the same procedure will be applied in the future, it is necessary to continuously monitor whether a “Notice of Proposed Actions” will be issued, as this could provide an opportunity to submit additional comments. In particular, since the USTR has not yet proposed any corrective measures, it is difficult to predict the final outcome, and it is impossible to anticipate what trade measures will be adopted until the USTR makes an official announcement.

Global Air Cargo Market Trends

The global air cargo market did not experience the traditional summer slowdown in demand; instead, freight rates remained high in August as supply shortages persisted on major export routes from Asia. According to the International Air Transport Association (IATA), global spot rates in August rose 24% year-over-year to $3.13 per kg. However, compared to July, rates fell by 3%, showing signs that the upward trend is gradually easing. By route, rates from China to Western Europe fell 6% month-over-month to $3.85 per kg, while rates from Southeast Asia to Europe fell 7% to $4.20. In contrast, rates from Northeast Asia to North America actually rose by 2% to $5.76. This robust demand and high freight rates are underpinned by growth in the manufacturing sector; in particular, expanded production of semiconductors and data center equipment in Vietnam and Taiwan is driving air cargo volumes, and e-commerce volumes are also cited as a key factor supporting the market. Although e-commerce shipments from China to Europe fell by 25% in July following the EU’s abolition of the duty-free threshold for low-value goods, the industry forecasts that this is merely a temporary phenomenon and that a long-term recovery is likely, similar to the U.S. experience. Experts predict that supply shortages will persist for the next five years and analyze that the market remains in a “seller’s market.”