Newsletter [June 7 - June 13]

Written By Richard Roman Jr

Good Morning

A note from our CEO, Richard Roman Jr

The market continues to shift quickly as we move deeper into June.

Ocean freight conditions have tightened significantly, with carriers successfully implementing multiple rounds of General Rate Increases (GRIs). While the upcoming mid-June increases are expected to settle below some initial announcements, the bigger story is that increases are continuing to hold in the market.

More importantly, the challenge has shifted beyond pricing. Even for importers prepared to move at current market levels, securing vessel space — especially out of Asia — has become increasingly difficult.

At the same time, CBP has announced one of the largest shifts in importer compliance requirements in years, signaling a stronger focus on accountability, financial responsibility, and supply chain transparency.

The Roundup

What moved the world this week

Customs & Trade Policy Update

CBP Announces Major Importer Compliance Changes

On June 3, President Trump signed the Strengthening Customs Enforcement Executive Order, directing CBP to implement stricter requirements for importers, customs brokers, and supply chain participants.  

The goal is to strengthen enforcement around:

  • Importer accountability

  • Duty collection

  • Forced labor prevention

  • Undervaluation and misclassification

  • Illegal transshipment

Upcoming changes include:

  • Increased importer vetting requirements

  • Higher bond and financial responsibility standards

  • Additional ownership and business disclosures

  • Creation of importer “good standing” requirements

  • Increased supply chain documentation requirements

Foreign Importers of Record (IORs) are expected to face additional scrutiny, including restrictions around certain entry processes and increased validation requirements.  

Implementation Timeline

These changes will roll out in phases:

  • 90 days: certain enforcement and documentation updates

  • 180 days: major importer registration, bond, good-standing, and vetting changes

For importers, this reinforces the importance of having strong compliance processes and working with partners who understand CBP requirements.

IEEPA Refund Update: Payments Continue, Questions Remain

CAPE refund processing continues moving forward, with importers beginning to receive refund payments from CBP.

Current observations:

  • Refunds are being issued as entries are processed rather than one large consolidated payment

  • Payments include applicable government interest

  • Phase 1 CAPE refunds continue moving through ACE

However, litigation remains ongoing around the treatment of certain entries outside Phase 1, particularly older liquidated entries.

Importers should continue monitoring refund eligibility, liquidation status, and potential protest deadlines.

Supply Chain & Logistics News

Freight Rates Continue Climbing as Space Tightens

The ocean freight market has entered an early peak-season environment.

Carriers have successfully implemented multiple rounds of GRIs, and another round is scheduled for mid-June. Although some increases are expected to settle below original announcements, the fact that increases continue holding shows stronger carrier pricing power.  

Several factors are driving the current market:

  • Earlier peak-season shipping activity

  • Tariff uncertainty pulling shipments forward

  • Blank sailings and capacity management

  • Vessel schedule disruptions

  • Equipment imbalance

Space Availability Becomes the Main Challenge

At this stage, the concern is not only freight cost — it is securing space.

Even when importers approve current market rates, carriers are becoming more selective with allocation.

We are seeing:

  • Longer booking lead times

  • Fully committed sailings

  • Increased rollover risk

  • Reduced flexibility for last-minute shipments

This is especially noticeable out of Asia, where demand and capacity management have tightened available options.

Early forecasting and communication are becoming critical.

The Forecast

Trends, goals, and what’s on the radar at JR Global

The next several weeks will determine whether this market strength continues.

JR Global is monitoring:

  • How much of the June 15 GRI remains in effect

  • Carrier allocation and blank sailing strategies

  • Asia origin space availability

  • CBP implementation guidance on importer requirements

  • CAPE refund processing developments

If demand remains strong, carriers may continue maintaining elevated pricing and tighter allocation through the summer.

The Shortcut

Smart tips for smart shippers

  • Freight rates continue increasing after successful GRIs

  • June 15 increases are expected to settle lower than initial announcements but still remain impactful

  • Space availability is becoming a bigger challenge than pricing

  • Asia bookings require significantly more lead time

  • CBP announced major importer compliance changes

  • Major IOR requirements expected over the next 180 days

  • CAPE refunds continue processing with interest

  • Refund litigation remains ongoing for certain entries

The Playlist

What the JR team is listening to this week in the office

Spotify Playlist

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Richard Roman Jr
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Newsletter [May 31 - June 6]