News / US imports set to be bolstered by Pacific rate decline and strong dollar

Pier-300-channel-aerial Port of Los Angeles.

Transpacific ocean rates might be experiencing a “post-Covid plummet”, but US import volumes remain high and lower freight rates could be “good for the economy”.

As The Loadstar reported yesterday, the latest Shanghai Containerised Freight Index (SCFI) showed rates from Shanghai to Los Angeles declining 32% in the space of a fortnight, to $3,500 per 40ft.

As a result, the market has “entered a new phase”, according to Flexport. The forwarder added: “The transpacific eastbound (TPEB) specifically is seeing a post-Covid plummet.

“Multiple ...