Newsletter [July 5 - July 11]
Good Morning
A note from our CEO, Richard Roman Jr
This week has been relatively steady compared to the rapid changes we’ve seen over the past several months.
While there have been no major trade policy announcements, the freight market remains in a delicate balance. Carriers continue actively managing capacity through blank sailings and service adjustments, helping maintain rate levels despite slight improvements in vessel availability. The next few weeks will be an important indicator of whether carriers can continue supporting current pricing or whether increased capacity begins creating a more competitive market.
Our advice remains the same: continue planning shipments early and maintain flexibility where possible.
The Roundup
What moved the world this week
Customs & Trade Policy Update
CAPE Refund Processing Continues
CBP continues processing IEEPA refund claims submitted through the CAPE portal.
Importers are continuing to receive refund payments, including applicable government interest, as CBP reviews eligible entries. Refunds continue to be issued primarily on an entry-by-entry basis rather than as one consolidated payment.
As additional phases of the CAPE program are implemented, importers should continue reviewing eligible entries and monitoring CBP guidance for future filing opportunities.
Preparing for Enhanced CBP Compliance
Although there were no major customs announcements this week, CBP continues moving toward implementation of its strengthened importer compliance initiative announced earlier this summer.
Importers should continue reviewing:
Bond sufficiency
Importer of Record information
ACE account access
Supply chain documentation
Classification and valuation procedures
Strengthening compliance today will help reduce risk as additional requirements are phased in over the coming months.
Trade Negotiations Continue
While no major tariff changes were announced this week, negotiations with several U.S. trading partners continue.
Importers should continue monitoring developments as future agreements could impact sourcing decisions, landed costs, and tariff exposure later this year.
Supply Chain & Logistics News
Freight Market Stabilizing, But Capacity Remains Controlled
Following several rounds of successful General Rate Increases (GRIs), freight rates have remained relatively stable this past week.
Although space availability has improved slightly on select services, carriers continue carefully managing the market through:
Blank sailings
Vessel deployment adjustments
Controlled booking allocations
Capacity discipline across major trade lanes
As a result, securing space—particularly from Asia—still requires advance planning, even if conditions have improved compared to a few weeks ago.
The first few weeks of July will ultimately determine whether carriers continue supporting current rate levels or whether additional capacity leads to more favorable pricing later this summer.
The Forecast
Trends, goals, and what’s on the radar at JR Global
The market is entering a period where carrier strategy will likely have a greater impact than demand alone.
JR Global will continue monitoring:
Blank sailing announcements
Vessel utilization
Asia export capacity
Carrier pricing strategy
CAPE refund processing
CBP implementation of enhanced importer requirements
If current capacity discipline continues, freight rates are likely to remain relatively firm. However, should vessel availability continue improving, pricing could become more competitive later this summer.
The Shortcut
Smart tips for smart shippers
Freight rates remained relatively stable this week following recent GRIs
Blank sailings continue supporting carrier pricing
Space availability has improved slightly but advance booking remains recommended
CAPE refund payments continue processing with applicable government interest
CBP continues preparing enhanced importer compliance requirements
Trade negotiations remain active with no major tariff changes announced this week
The Playlist
What the JR team is listening to this week in the office
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