News / A festive rate respite, but carriers may be in for 'a bumpy ride' in 2019

The penultimate reading from the Shanghai Containerized Freight Index (SCFI) for 2018 saw continued erosion of spot rates on the transpacific, countered by gains on the Asia-Europe trades.

With US retailers now reported to be overstocked after the advance booking rush to beat the postponed 1 January tariff hike on Chinese imports, demand is proving weaker than the seasonal norm, forcing carriers into heavy discounting.

For the US west coast, spot rates tumbled another 8.9% this week, to $1,763 per 40ft and ...