News / Transpacific contract rates rise on Trump’s fickle policies

© Paulus Rusyanto

Shippers exasperated with the constant flip-flops in the Trump administration’s trade policy have agreed to transpacific shipping contracts at slightly higher rates than last year.

Linerlytica’s report this week stated that the contract rates were $200/40-foot unit higher than last year.

The contracts include provisions for surcharges should the US Trade Representative’s office succeed in imposing hefty port fees for Chinese-built ships and operators with such vessels in their fleet. This is despite the uncertain outlook for cargo volumes.

The Loadstar was told ...